3240 N Clark St - Apartments FOR SALE


Chicago, IL 60657- Lakeview
$1,800,000 USD
847-778-8746
3240 N Clark St, Chicago, IL for Sale
$1,800,000 USD
Apartments - FOR SALE
1/23
null | 5.55% Cap Rate

3240 N Clark St
Chicago, IL 60657
Lakeview


HIGHLIGHTS

  • Steps from the Belmont CTA on the high-traffic Clark Street corridor, this asset features a 2017 rehab and 2022 masonry and storefront improvements
  • Includes six (6) updated 1-bed / 1-bath apartments and two commercial spaces totaling 2,400 SF, providing a stabilized and diversified income stream
  • Features separate tenant-paid utilities, four rear parking spaces, and a clear path to increased revenue by bringing rents to market levels.

OVERVIEW

3240 N. Clark presents a rare opportunity to acquire a fully renovated, stabilized 8-unit mixed-use asset in the heart of Lakeview—one of Chicago’s most sought-after retail and residential corridors. This turn-key investment features six (6) updated 1BR/1BA apartments with granite countertops, stainless steel appliances, and individual HVAC, plus a renovated storefront space and garden retail space totaling 2,432 SF along bustling Clark Street. Extensively improved with a new roof, gutters, remodeled interiors, upgraded brick façade, and renovated commercial space, the property offers minimal near-term capex and separate gas and electric metering for operational efficiency. Four rear surface parking spaces add a major competitive advantage in a parking-constrained neighborhood. Just steps from the Belmont CTA and surrounded by strong retail traffic, this plug-and-play asset delivers stable in-place income with clear upside through rent growth in a premier Chicago submarket.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$367 USD /SF

# OF UNITS

8

PRICE/UNIT

$225,000

CAP RATE

5.55%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1894

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

B3-3

APN/PARCEL ID

14-20-426-031-0000

ASK ABOUT THIS PROPERTY

Matthew FritzshallTriton Realty Group, LLCMore Info
847-778-8746

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Matthew FritzshallTriton Realty Group, LLCMore Info
847-778-8746

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.