Edgewater Industrial Building For
For Sale
$4,449,000
Pending
6122 N CLARK Street, Chicago, IL 60660
Flex industrial/manufacturing building in Edgewater neighborhood with redevelopment potential.
Property Size27,146 SF
Lot Size0.84 Acres
Days on Market547
Property Features for 6122 N CLARK Street
General Information
Standard status
Pending
Size
27,146 SF
Lot size
0.84 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$102,296
Building Details
Year Built
1960
Listing Agency:
Baird & Warner
(312) 640-7010
Listed By:
Wesley Jonberg · License #475124475
(773) 732-0797
Source:
Exitrealty
Added: Mar 18, 2025
Changed: Sep 2
Last Checked: Sep 15 at 4:34AM
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 Baird & Warner
Investment Insights
Based on property information with market context.
Located at 6122 North Clark Street, Chicago, IL 60660, this one-story flex industrial/manufacturing brick building is currently owned and operated by Chicago Soccer (CFA) Academy. The building has a gross leasable area of approximately 27,146.00 square feet and sits on a site of approximately 36,590.00 square feet. Zoned B3-2, the property features a master kitchen, two bars, 800a/heavy power, and a 15-foot ceiling. It also includes a rubber/flat roof and 15 external parking spaces. Positioned along the west side of Clark Street, the property has access to multiple forms of public transportation and arterial roads, offering easy access to downtown Chicago and the North Shore suburbs. The property is located in the Edgewater neighborhood and presents an acquisition opportunity for a standalone industrial building with redevelopment potential.
Key Highlights
- Redevelopment potential in the Edgewater neighborhood.
- Large flex industrial/manufacturing building with 27,146 sq ft GLA on a 36,590 sq ft site.
- Favorable B3‑2 zoning.
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
$313,373
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
7.04%
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%
$6,267,460
$6.3M
Cap Rate 7%
$4,476,757
$4.5M
Cap Rate 9%
$3,481,922
$3.5M
Market Conditions
NOI Build-Up for 27,146 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
$521.2K $19.20/SF
− Vacancy
−$39.1K −$1.44/SF
EGI
$482.1K $17.76/SF
− OpEx
−$168.7K −$6.22/SF
NOI
$313.4K $11.54/SF
Area
Chicago, IL
Vacancy
7.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$6,267,460
Cap Rate 7%
$4,476,757
Cap Rate 9%
$3,481,922
Alternative Uses
Best Use
Flex RnD
$4.48M
$3.92M – $5.22M
NOI $313,373 @ 7.0% cap · market cap 7.04%
Second Best
Industrial
$2.43M
$2.13M – $2.84M
NOI $170,231 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$12.80M
$11.20M – $14.93M
NOI $895,948 @ 7.0% cap · market cap 20.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,955
Businesses Nearby
Explore this area
Business Placement
Demographics for 60660, IL
42,534
Population
23,508
Households
1.8
Avg Household Size
38
Median Age
57%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
32,718
Density / Sq Mi
$66,206
Median Household Income
$46,871
Median Earnings
$1,286
Median Rent
$287,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Flex industrial/manufacturing building in Edgewater neighborhood with redevelopment potential.
Where is this manufacturing property located?
The property is located at 6122 N CLARK Street Chicago, IL.
What is the asking price?
The asking price for this property is $4,449,000.
What are key features of this property?
This property features: Redevelopment potential in the Edgewater neighborhood.; Large flex industrial/manufacturing building with 27,146 sq ft GLA on a 36,590 sq ft site.; Favorable B3‑2 zoning.
