3473 Clark StChicago, IL 60657

Property Details for 3473 Clark St

Year built

1899

Lot size

0.08 AC

Property size (Sq ft)

7,950 SF

Property type

Commercial real estate

APN

14-20-403-057

APU

1420403057

Description

This exceptional 4-story Chicago hotel boasts 15,000 rentable square feet, 47 keys, and a prime location near Wrigley Field but not directly on top of it. Completely renovated in 2017 and 2018, the property features 21 units, each fully furnished and offering special amenities. The building benefits from abundant natural light with windows on 3.5 sides and tall ceilings. A first-floor restaurant lease adds to the income stream. The property includes a double lot, plus a contiguous 3,450 square foot double lot to the south, offering significant expansion potential. The permitted zoning is B3-5. The current annual net operating income is $853,613. The asking price is $25,000,000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,895,560

  6.5%

  $2,672,820

  7%

  $2,481,910

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,035,490

  Geo Method

  $1,035,490

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $5,395,330

  Retail / Commercial

  $2,740,630

  Mixed-Use / Specialty

  $2,710,320

  Hospitality / Lodging

  $1,961,730

  Office

  $2,672,820

  Institutional / Educational

  $2,810,300

  Residential Income

  $3,288,050

  Multifamily

  $4,057,390

  Automotive / Energy

  $2,408,830

  Parking / Income-Based Land

  $851,551

  Restaurant / Food Service

  $1,365,820

  Healthcare / Senior Housing

  $2,800,450

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9454

Longitude

-87.6548

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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