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3240 N Clark St 8 Unit Apartment Building $1,800,000 ($225,000/Unit) 5.55% Cap Rate Chicago, IL 60657
Investment 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
- Features separate tenant-paid utilities, four rear parking spaces, and a clear path to increased revenue by bringing rents to market levels.
- Includes six (6) updated 1-bed / 1-bath apartments and two commercial spaces totaling 2,400 SF, providing a stabilized and diversified income stream
Executive Summary
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.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro Forma - 2027) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$181,138
|
$36.97
|
| Other Income |
$2,400
|
$0.49
|
| Vacancy Loss |
$6,822
|
$1.39
|
| Effective Gross Income |
$176,716
|
$36.06
|
| Taxes |
$28,872
|
$5.89
|
| Operating Expenses |
$30,262
|
$6.18
|
| Total Expenses |
$59,134
|
$12.07
|
| Net Operating Income |
$117,582
|
$24.00
|
Financial Summary (Pro Forma - 2027)
| Gross Rental Income | |
|---|---|
| Annual | $181,138 |
| Annual Per SF | $36.97 |
| Other Income | |
|---|---|
| Annual | $2,400 |
| Annual Per SF | $0.49 |
| Vacancy Loss | |
|---|---|
| Annual | $6,822 |
| Annual Per SF | $1.39 |
| Effective Gross Income | |
|---|---|
| Annual | $176,716 |
| Annual Per SF | $36.06 |
| Taxes | |
|---|---|
| Annual | $28,872 |
| Annual Per SF | $5.89 |
| Operating Expenses | |
|---|---|
| Annual | $30,262 |
| Annual Per SF | $6.18 |
| Total Expenses | |
|---|---|
| Annual | $59,134 |
| Annual Per SF | $12.07 |
| Net Operating Income | |
|---|---|
| Annual | $117,582 |
| Annual Per SF | $24.00 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 600 |
1 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Excellent Transit (86)
Bike Score®
Very Bikeable (89)
Property Taxes
| Parcel Number | 14-20-426-031-0000 | Total Assessment | $138,476 (2025) |
| Land Assessment | $26,250 (2025) | Annual Taxes | $28,872 ($4.48/SF) |
| Improvements Assessment | $112,226 (2025) | Tax Year | 2027 |
Property Taxes
Parcel Number
14-20-426-031-0000
Land Assessment
$26,250 (2025)
Improvements Assessment
$112,226 (2025)
Total Assessment
$138,476 (2025)
Annual Taxes
$28,872 ($4.48/SF)
Tax Year
2027
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3240 N Clark St
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