For Sale
$1,095,000

5143 Clark StChicago, IL 60640

3-Unit Building, 7.16% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional mixed-use property in Chicago's Andersonville neighborhood presents a compelling investment opportunity. The three-story, 3,600 square foot building at 5143 N Clark Street boasts three units: a ground-floor commercial space occupied by a thriving pan-Asian restaurant with a lease featuring annual rent increases and renewal options, and two well-maintained, three-bedroom residential units. The building, constructed in 1916, sits on a 0.07-acre lot and enjoys 100% occupancy, generating a strong net operating income (NOI) of $78,357 and a 7.16% capitalization rate. Residents benefit from individually metered utilities (electricity, heat, and hot water). The prime location offers convenient access to public transportation, including the Argyle CTA and Ravenswood Metra stations, major bus routes, and proximity to Lake Michigan beaches. The surrounding area features a dense population with high average household incomes, and numerous national retailers. The commercial tenant's lease includes attractive annual rent increases, providing a hedge against inflation. This property offers a blend of stable income and significant upside potential in a desirable Chicago neighborhood. The property is located one block from W Foster Avenue (US Highway 41), 500 feet from N Ashland Avenue, and 0.5 miles from W Lawrence Avenue. It's also approximately 1 mile from Lake Shore Drive and 1.8 miles from Loyola University Chicago. The strong demographics within a 3-mile radius, with over 459,300 residents and an average household income exceeding $131,224, further solidify this investment's appeal.

Highlights

  • Three-story, 3,600 sq ft mixed-use building in Chicago's Andersonville neighborhood with a thriving pan-Asian restaurant on the ground floor and two 3-bedroom residential units.
  • Strong net operating income (NOI) of $78,357 and a 7.16% capitalization rate with 100% occupancy.
  • Ground floor commercial tenant has a lease with annual rent increases and renewal options, providing a hedge against inflation.
  • Well-maintained residential units with individually metered utilities (electricity, heat, and hot water).
  • Excellent location near public transportation (CTA, Metra, bus routes), Lake Michigan, and major commercial corridors (Foster Ave, Ashland Ave, Lawrence Ave).
  • Strong demographics: over 459,300 residents within a 3-mile radius with an average household income exceeding $131,224.

Property Details for 5143 Clark St

Property type
Retail properties, Restaurants
Square Feet
3,600 SF
Year Built
1916
Buildings
1
Stories
3
Lot Size (sq. ft)
3,049 SF
Units
3

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.9756168
Longitude
-87.6678801
5143 Clark St, Chicago, Illinois

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5143 Clark St
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