2223 Clybourn AveChicago, IL 60614

Property Details for 2223 Clybourn Ave

Year built

1881

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.07 AC

Property size (Sq ft)

4,000 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

14-32-108-017

APU

1432108017

Description

This exceptional 2,000 square foot retail space is ideally situated at the corner of Clybourn and Webster Avenues in Chicago's vibrant Lincoln Yards development. The property boasts a desirable M1 zoning classification, offering a wide range of permitted uses including pet stores, grooming services, cafes, restaurants, salons, spas, gyms, offices, and health clubs. The building itself is a two-story structure with a total of 5,000 square feet, offering ample space for a variety of businesses. Ceiling heights range from 11 to 13 feet, creating a spacious and inviting atmosphere. The space includes one bathroom and features extensive plumbing and floor drains, remnants from previous commercial tenants. The property's prime location offers excellent visibility and accessibility, with nearby amenities including C.H. Robinson, Trader Joe's, veterinary services, big-box retailers, numerous new homes and condos, and convenient access to Metra. The net monthly rent is $3,695, and utilities, taxes, and water are the responsibility of the tenant. The property is available for immediate occupancy. The potential for installing black iron accents adds to the space's adaptability and aesthetic appeal. This is a remarkable opportunity to establish a thriving business in a rapidly growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,792,230

  6.5%

  $1,654,360

  7%

  $1,536,200

• Comparable approach

  Method

  Valuation

  Relative Method

  $609,570

  Geo Method

  $609,570

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,714,630

  Retail / Commercial

  $1,378,930

  Mixed-Use / Specialty

  $1,363,680

  Hospitality / Lodging

  $987,034

  Office

  $1,344,820

  Institutional / Educational

  $1,413,990

  Multifamily

  $2,041,450

  Automotive / Energy

  $1,211,990

  Parking / Income-Based Land

  $428,454

  Restaurant / Food Service

  $687,204

  Healthcare / Senior Housing

  $1,409,030

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9223

Longitude

-87.6648

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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