5601-5609 Clark St Chicago, IL 60660

Property Details for 5601-5609 Clark St

Year built

1919

Lot size

0.29 lot acres

Property size

6,245 SF

Property type

Retail properties & Spaces

Property subtype

Retail space

Description

This exceptional retail property, located at 5601-5609 N Clark St in Chicago's coveted Andersonville neighborhood, presents a compelling investment opportunity. The 6,245 square foot, multi-tenant storefront building sits on a 0.29-acre lot and boasts four tenants with a 100% occupancy rate. Built in 1919, the property features a stabilized rent roll with a weighted average lease term exceeding 4.5 years, commencing August 18, 2015. All four tenants operate under NNN leases, ensuring the owner's reimbursement of operating expenses, including a partial recovery of third-party management fees. The current Net Operating Income (NOI) is $174,000, yielding a 6.85% cap rate at the asking price of $2,540,000 ($406.73/sq ft). The property benefits from strong annual rent increases built into each lease, and several tenants are currently paying below-market rates, presenting significant long-term upside potential. Situated at a signalized intersection on Clark Street, the property enjoys high visibility and benefits from the dense pedestrian traffic characteristic of Andersonville's vibrant retail corridor. The surrounding area features a youthful and affluent demographic, with an average household income exceeding $100,000 annually and a population density of 76,000 within a one-mile radius. This prime location, coupled with the strong tenant mix and lease terms, makes this a highly attractive investment opportunity in one of Chicago's most desirable neighborhoods.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.6686

Latitude

41.9836