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    3219 Clark St Chicago, IL 60657

    Sponsored
    For Sale
    $2,250,000

    Prime Chicago location, high NOI.

    Property size:
    6,992 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 6,992 square foot, Class C medical office building presents a compelling value-add investment opportunity. Located at 3219 N. Clark St in Chicago's vibrant Lake View neighborhood, this single-tenant property boasts a 100% occupancy rate with VCA Animal Hospital under an Absolute NNN lease expiring December 31, 2027, with a 24-month extension. The property features a strong Net Operating Income (NOI) of $190,177, yielding an 8.45% cap rate at an asking price of $2,250,000 ($321.80/sq ft). Built in 1925, the three-story building sits on a 5,000 square foot lot and includes 9 parking spaces. The B1-3 zoning allows for a variety of uses. The property benefits from its high-traffic location on a major retail corridor with excellent public transportation access, including proximity to the Belmont Red and Purple Line CTA stations. The surrounding area is densely populated with affluent residents and features numerous amenities, including major retailers, restaurants, and entertainment venues. The long-term lease with a nationally recognized tenant, VCA Animal Hospital, provides stable cash flow and minimizes landlord responsibilities. Scheduled rent increases further enhance the investment's return potential. This property offers a rare combination of strong financial performance, a desirable location, and a secure tenant, making it an ideal investment for discerning buyers. The property's Parcel Number (APN) is 14-20-427-007-0000.

    Property Features for 3219 Clark St

    General Information

    Property type
    Medical offices
    Square Feet
    6,992 SF
    Class
    C

    Building Details

    Year Built
    1925
    Buildings
    1
    Stories
    3
    Units
    1

    HighLights

    • 6,992 SF Class C medical office building in Chicago's Lake View neighborhood, offering a value‑add investment opportunity.
    • 100% occupancy with VCA Animal Hospital under an Absolute NNN lease expiring December 31, 2027, with a 24‑month extension option. Strong NOI of $190,177, 8.45% cap rate, asking price $2,250,000 ($321.80/SF).
    • Located on a high‑traffic retail corridor on N. Clark St, near Belmont Red & Purple Line CTA stations. Excellent public transportation access and high visibility.
    • Surrounded by affluent residents, major retailers (Walmart, Mariano's, Trader Joe's), restaurants, and entertainment venues (Wrigley Field, Landmark Century Cinemas). Advocate Illinois Masonic Medical Center nearby.
    • Three‑story building (built 1925) on a 5,000 SF lot with 9 parking spaces. B1‑3 zoning. Parcel Number: 14‑20‑427‑007‑0000.
    Property Profile Location Intelligence

    Current Use by Public Records

    VCA Blum Animal ... Veterinarian Julia Georgesen, DVM Veterinarian Rubin Veterinary Services Veterinary Care Dann Robert Dr Veterinarian

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6508108
    Latitude
    41.9405805

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    FAQs

    What type of property is this?
    Medical office - Prime Chicago location, high NOI.
    Where is this medical office located?
    The property is located at 3219 Clark St Chicago, IL.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: 6,992 SF Class C medical office building in Chicago's Lake View neighborhood, offering a value-add investment opportunity.; 100% occupancy with VCA Animal Hospital under an Absolute NNN lease expiring December 31, 2027, with a 24-month extension option. Strong NOI of $190,177, 8.45% cap rate, asking price $2,250,000 ($321.80/SF).; Located on a high-traffic retail corridor on N. Clark St, near Belmont Red & Purple Line CTA stations. Excellent public transportation access and high visibility.
    Request Owner's contact information
    3219 Clark St Chicago, IL 60657
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3219 Clark St Chicago, IL 60657
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