Mixed-Use Building with
For Sale
$1,999,999
Pending
6600 North Clark Street, Chicago, IL 60626
Residential apartments accompany flexible storefront spaces in a two-story commercial building.
Property Size6,622 SF
Days on Market371
Property Features for 6600 North Clark Street
General Information
Standard status
Pending
Size
6,622 SF
Net Operating Income
$156,000
Property Condition
Severity
Repairs Needed
Evidence
very little deferred maintenance
Units
Unit Mix
10 x 2BR/1BA
Multifamily Units
10
Taxes and HOA fees
Annual Taxes
$24,750
Building Details
Year Built
1927
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
@properties Christie's International Real Estate
(312) 437-7799
Listed By:
Sohail Salahuddin · License #475000382
(312) 437-7799
Source:
Compass
Added: Aug 25, 2025
Changed: Aug 29
Last Checked: Aug 29 at 3:07PM
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 @properties Christie's International Real Estate
Investment Insights
Based on property information with market context.
Built in 1927, this mixed-use property combines 10 residential apartments with 2 storefront retail or office spaces. The apartments are configured as 2-bedroom, 1-bathroom units and feature hardwood floors. The building contains 6,622 SF of property area at 6600 North Clark Street in Chicago.
Both storefront spaces are currently vacant. The space at 6600 Clark is finished as a vanilla box, while 6602 Clark was previously used as an office and is also available. The property includes a blend of residential income space and street-level commercial space within one building.
Both storefront spaces are currently vacant. The space at 6600 Clark is finished as a vanilla box, while 6602 Clark was previously used as an office and is also available. The property includes a blend of residential income space and street-level commercial space within one building.
Key Highlights
- 10 residential apartments, each configured as a 2‑bedroom, 1‑bathroom unit
- 2 storefront retail or office spaces
- 6,622 SF property built in 1927
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
$111,746
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
5.59%
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%
$2,234,920
$2.2M
Cap Rate 7%
$1,596,371
$1.6M
Cap Rate 9%
$1,241,622
$1.2M
Market Conditions
NOI Build-Up for 6,622 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
$198.7K $30.00/SF
− Vacancy
−$19.9K −$3.00/SF
EGI
$178.8K $27.00/SF
− OpEx
−$67.0K −$10.13/SF
NOI
$111.7K $16.88/SF
Area
Chicago, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,234,920
Cap Rate 7%
$1,596,371
Cap Rate 9%
$1,241,622
Alternative Uses
Best Use
Mixed Use
$1.60M
$1.40M – $1.86M
NOI $111,746 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$1.45M
$1.27M – $1.69M
NOI $101,510 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$3.12M
$2.73M – $3.64M
NOI $218,558 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,484
Businesses Nearby
Explore this area
Business Placement
Demographics for 60626, IL
50,548
Population
26,812
Households
1.9
Avg Household Size
36
Median Age
53%
College-Educated
91%
High-School Grad
1.7 sq mi
ZIP Area
29,734
Density / Sq Mi
$57,452
Median Household Income
$39,527
Median Earnings
$1,265
Median Rent
$269,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential apartments accompany flexible storefront spaces in a two-story commercial building.
Where is this mixed-use property located?
The property is located at 6600 North Clark Street Chicago, IL.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: 10 residential apartments, each configured as a 2‑bedroom, 1‑bathroom unit; 2 storefront retail or office spaces; 6,622 SF property built in 1927
