Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3131 Clark St Chicago, IL 60657
    Back to Search
    Property profile & analytics

    3131 Clark St Chicago, IL 60657

    View on Map
    • Lifestyle centers
    • 90,455 SF
    • 0.90 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • DSW Designer Shoe Warehouse / Clothing & Fashion Store / (Bike/Boat/Book/etc) Store
    • Michaels / Home Decor Store / Department Store
    • Aaron Brothers / (Bike/Boat/Book/etc) Store / Home Decor Store
    • Marshalls / Department Store
    • Michaels Custom Framing / (Bike/Boat/Book/etc) Store / Home Decor Store

    Property Details for 3131 Clark St

    Year built
    1996
    Lot size
    0.90 lot acres
    Property size
    90,455 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6496
    Latitude
    41.9391

    Comparable in this City

    • Value Estimation by Request
      310,000 SF

      3460 Broadway St

      Restaurants • 310,000 SF
      3460 Broadway St, Chicago, IL 60657
      View Details
    • Value Estimation by Request
      0.11 Acres

      2811 Racine Ave

      Individual retail properties • 6,725 SF
      2811 Racine Ave, Chicago, IL 60657
      View Details
    • Value Estimation by Request
      2,909 SF

      3052 Lincoln Ave

      Individual retail properties • 2,909 SF
      3052 Lincoln Ave, Chicago, IL 60657
      View Details
    • Value Estimation by Request
      6,858 SF

      3043 Ashland Ave

      Individual retail properties • 6,858 SF
      3043 Ashland Ave, Chicago, IL 60657
      View Details
    • Value Estimation by Request

      1333 Belmont Ave

      STORE, RETAIL OUTLET
      1333 Belmont Ave, Chicago, IL 60657-5785
      View Details
    • Value Estimation
      $4,295,000
      34,200 SF

      3129 Lincoln Ave

      STORE, RETAIL OUTLET • 34,200 SF
      3129 Lincoln Ave, Chicago, IL 60657
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Grocery-Anchored Urban Retail Center

      Premier retail center serving Chicago's Lakeview and Lincoln Park neighborhoods.
      3030 N Broadway St, Chicago, IL 60657
      View Details
    • $818,000
      2,400 SF

      Lakeview Retail Condo Investment

      Prime Lakeview storefront, 6.31% cap rate.
      1342 Belmont Ave, Chicago, IL 60657
      View Details
    • $1,995,000
      1,870 SF

      Retail Space Near Wrigley Field

      Retail space available near Wrigley Field with high visibility.
      3408 N Clark St, Chicago, IL 60657
      View Details
    • $975,000

      Lakeview Mixed-Use Building For Sale

      Mixed-use building with storefronts and apartments in central Lakeview.
      1150 W Belmont Ave, Chicago, IL 60657
      View Details
    • $1,849,000

      Roscoe Village Mixed-Use Building

      Renovated mixed-use building in Roscoe Village with income potential.
      1953 W Roscoe St, Chicago, IL 60657
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,780 SF

      Prime Corner Retail Space Available

      Corner retail space near Belmont station and Wrigley Field.
      1031 W Belmont Ave, Chicago, IL 60657
      View Details
    • Contact for pricing
      1,780 SF

      Prime Corner Retail Space

      Lakeview retail space near Belmont 'L' stop and Wrigleyville.
      1751 W Belmont Ave, Chicago, IL 60657
      View Details
    • Contact for pricing
      2,293 SF

      Lincoln Avenue Retail Space Available

      Retail space for rent in Lakeview neighborhood, Chicago.
      3345-3353 N Lincoln Ave, Chicago, IL 60657
      View Details
    • Contact for pricing
      1,792 SF

      Retail Space on Southport Avenue

      Prime retail space in Chicago's boutique district, near public transit.
      3452 N Southport Ave, Chicago, IL 60657
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Chicago Hub

      Vibrant retail space in a bustling Chicago intersection.
      2827-2829 N Clark St, Chicago, IL 60657
      View Details
    • Contact for pricing
      3,492 SF

      Retail Space Available For Lease

      Retail space available for lease in Chicago, Illinois.
      918 W School St, Chicago, IL 60657
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3131 Clark St
    Chicago, IL 60657
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3131 Clark St, Chicago, IL, 60657
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!