Lakeview Commercial Condo
For Sale
Contact for pricing
4422 N Clark Street, Chicago, IL 60640
Versatile 4,000 SF commercial condo in prime Lakeview location.
Property Size4,000 SF
Price / SF$324.99
Days on Market196
Property Features for 4422 N Clark Street
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
6
Property subtype
Multifamily, Retail
Zoning
RTAIL
Investment Type
Owner/User
Building Details
Year Built
2008
Units
1
Listing Agency:
Ed Bohrer
Listed By:
Edward Bohrer · License #471004435
Source:
Crexi
Added: Feb 6
Changed: Aug 8
Last Checked: Aug 8 at 6:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ed Bohrer
Investment Insights
Based on property information with market context.
This brick commercial condo offers approximately 4,000 SF of ground floor space in Lakeview. The layout features three storefront entrances and three separately metered units, providing flexibility to occupy the full footprint or subdivide for multiple income streams. The interior features ceiling heights, modern track lighting, and a comprehensive security system. It is currently configured as a sweeping, open-concept retail flagship. The property is suited for creative office, fitness, or high-end showroom use. The property includes 4 deeded indoor spaces and 2 deeded outdoor spaces, 3 finished bathrooms (including one full bath with tub/shower), and a kitchenette. It has frontage on the Clark Street corridor with high daily traffic counts.
Key Highlights
- Prime Lakeview location in a rapidly developing, high‑traffic area.
- Versatile 4,000 SF commercial condo ideal for owner‑user or investment.
- Three separately metered units with storefront entrances offer flexible subdivision.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,339
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,106,780
$1.1M
Cap Rate 7%
$790,557
$790.6K
Cap Rate 9%
$614,878
$614.9K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$86.4K $21.60/SF
− Vacancy
−$7.3K −$1.84/SF
EGI
$79.1K $19.76/SF
− OpEx
−$23.7K −$5.93/SF
NOI
$55.3K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,106,780
Cap Rate 7%
$790,557
Cap Rate 9%
$614,878
Alternative Uses
Best Use
Retail
$790.6K
$691.7K – $922.3K
NOI $55,339 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,019 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,049
Businesses Nearby
93k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 37%
Groceries 35%
Office Supplies 13%
Dining 13%
Aldi
Groceries
32,487 visits/mo
0.4 miles
Staples
Office Supplies
12,326 visits/mo
0.2 miles
Mobil
Shops & Services
7,262 visits/mo
0.5 miles
7-Eleven
Shops & Services
7,133 visits/mo
0.1 miles
BP
Shops & Services
6,740 visits/mo
0.5 miles
Demographics for 60640, IL
65,941
Population
40,850
Households
1.6
Avg Household Size
38
Median Age
63%
College-Educated
92%
High-School Grad
2.4 sq mi
ZIP Area
27,475
Density / Sq Mi
$71,030
Median Household Income
$59,264
Median Earnings
$1,374
Median Rent
$363,300
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Versatile 4,000 SF commercial condo in prime Lakeview location.
Where is this retail space located?
The property is located at 4422 N Clark Street Chicago, IL.
What is the asking price?
The asking price for this property is $1,299,950.
What are key features of this property?
This property features: Prime Lakeview location in a rapidly developing, high‑traffic area.; Versatile 4,000 SF commercial condo ideal for owner‑user or investment.; Three separately metered units with storefront entrances offer flexible subdivision.
