3347 Clark St Chicago, IL 60657
- Office Properties & Spaces
- 0.07 lot acres
Current Use by Public Records
- Stephanie Gounder / Family Practice Physician / Nurse Practitioner
- VIP Feet Feel Spa / Massage Spa
Property Details for 3347 Clark St
- Year built
- 1898
- Lot size
- 0.07 lot acres
- Property type
- Office Properties & Spaces
- APN
- 14-20-419-102-1001
- APU
- 14204191021001
Description
This exceptional 2,500-square-foot retail storefront at 3347 N Clark St in Chicago's desirable Lakeview neighborhood presents a compelling redevelopment opportunity. The property, a single-unit, three-story building (built in 1925, renovated in 2018), boasts a 100% occupancy rate with a current gross lease in place until December 31, 2026. The current Net Operating Income (NOI) is $56,241, yielding a 6.33% cap rate. However, a pro-forma NOI of $87,500 projects a significantly higher 9.85% cap rate, showcasing substantial upside potential. The asking price is $888,000, translating to $355.20 per square foot. Situated on a 3,125-square-foot lot (APN: 14-20-419-102-1001) with B3-3 zoning, this property benefits from exceptional visibility and high foot traffic. The spacious interior, featuring 14-foot ceilings on the main level and 8-foot ceilings in the basement, offers ample room for various retail uses. Its prime location, near Lakeview's six corners, offers easy access to public transportation (Addison and Belmont Red, Purple, and Brown Line stations) and popular attractions like Wrigley Field and the lakefront. The property is classified as Class B and is offered for sale by owner.
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
- -87.6528
- Latitude
- 41.9431
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
