5143 Clark St Chicago, IL 60640-3282
- Residential income homes
- 3,243 SF
- 0.07 lot acres
Current Use by Public Records
- Cuckoo / Restaurant / Bubble Tea Store
Property Details for 5143 Clark St
- Year built
- 1916
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.07 lot acres
- Property size
- 3,243 SF
- Property type
- Residential income homes
- Property subtype
- Small apartment buildings
- APN
- 14-08-301-004
- APU
- 1408301004
Description
This exceptional mixed-use property in Chicago's Andersonville neighborhood presents a compelling investment opportunity. The three-story, 3,600 square foot building at 5143 N Clark Street boasts three units: a ground-floor commercial space occupied by a thriving pan-Asian restaurant with a lease featuring annual rent increases and renewal options, and two well-maintained, three-bedroom residential units. The building, constructed in 1916, sits on a 0.07-acre lot and enjoys 100% occupancy, generating a strong net operating income (NOI) of $78,357 and a 7.16% capitalization rate. Residents benefit from individually metered utilities (electricity, heat, and hot water). The prime location offers convenient access to public transportation, including the Argyle CTA and Ravenswood Metra stations, major bus routes, and proximity to Lake Michigan beaches. The surrounding area features a dense population with high average household incomes, and numerous national retailers. The commercial tenant's lease includes attractive annual rent increases, providing a hedge against inflation. This property offers a blend of stable income and significant upside potential in a desirable Chicago neighborhood. The property is located one block from W Foster Avenue (US Highway 41), 500 feet from N Ashland Avenue, and 0.5 miles from W Lawrence Avenue. It's also approximately 1 mile from Lake Shore Drive and 1.8 miles from Loyola University Chicago. The strong demographics within a 3-mile radius, with over 459,300 residents and an average household income exceeding $131,224, further solidify this investment's appeal.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.668
- Latitude
- 41.9757
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
