3219 Clark St Chicago, IL 60657

Property Details for 3219 Clark St

Year built

1928

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.11 lot acres

Property size

5,757 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

14-20-427-007

APU

1420427007

Description

This exceptional 6,992 square foot, Class C medical office building presents a compelling value-add investment opportunity. Located at 3219 N. Clark St in Chicago's vibrant Lake View neighborhood, this single-tenant property boasts a 100% occupancy rate with VCA Animal Hospital under an Absolute NNN lease expiring December 31, 2027, with a 24-month extension. The property features a strong Net Operating Income (NOI) of $190,177, yielding an 8.45% cap rate at an asking price of $2,250,000 ($321.80/sq ft). Built in 1925, the three-story building sits on a 5,000 square foot lot and includes 9 parking spaces. The B1-3 zoning allows for a variety of uses. The property benefits from its high-traffic location on a major retail corridor with excellent public transportation access, including proximity to the Belmont Red and Purple Line CTA stations. The surrounding area is densely populated with affluent residents and features numerous amenities, including major retailers, restaurants, and entertainment venues. The long-term lease with a nationally recognized tenant, VCA Animal Hospital, provides stable cash flow and minimizes landlord responsibilities. Scheduled rent increases further enhance the investment's return potential. This property offers a rare combination of strong financial performance, a desirable location, and a secure tenant, making it an ideal investment for discerning buyers. The property's Parcel Number (APN) is 14-20-427-007-0000.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.6507

Latitude

41.9406

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments