5601-5609 Clark St Chicago, IL 60660
- Retail properties
- 6,245 SF
- 0.29 lot acres
Current Use by Public Records
- Retail properties
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
- 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.
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
- -87.6686
- Latitude
- 41.9836
