3801-3809 N Clark St - Restaurant FOR SALE


Chicago, IL 60613- Lakeview
$3,995,000 USD
847-714-2913
3801-3809 N Clark St, Chicago, IL for Sale
$3,995,000 USD
Restaurant - FOR SALE
1/24
null | 6.42% Cap Rate

3801-3809 N Clark St
Chicago, IL 60613
Lakeview


HIGHLIGHTS

  • The property has undergone extensive capital improvements that reduce near-term capital expenditure requirements

OVERVIEW

3801 N Clark Street is a 100%-occupied, mixed-use corner building at Clark, Racine & Grace in Chicago's Wrigleyville submarket. The property comprises five residential units and two street-level retail tenants — Almost Home Tavern and Cloud Cookie — with staggered lease expirations and over $1.2M in completed capital improvements, reducing near-term expenditure requirements. In-place income reflects two distinct conditions: a long-tenured residential base with rents not reset to current market levels, and retail reimbursements — CAM and real estate taxes — not systematically collected under prior property management despite being contractually required. A proposed retail lease restructure maintains Almost Home's base rent at current levels while establishing a pro-rata NNN reimbursement structure consistent with existing lease terms — unlocking over $71,000 in additional annual NOI without changing tenancy. Opportunities of this nature — where occupancy is stable, capital has been deployed, and upside is unlocked through lease administration alone — are uncommon in this submarket.

FOR SALE DETAILS

PRICE

$3,995,000 USD

PRICE/SF

$799 USD /SF

CAP RATE

6.42%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1911

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

B3-2

APN/PARCEL ID

14-20-104-023-0000

ASK ABOUT THIS PROPERTY

Matthew NeistatJameson Commercial Real EstateMore Info
847-714-2913

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Matthew NeistatJameson Commercial Real EstateMore Info
847-714-2913

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