ON MARKET – MULTI-FAMILY
5935 N. Clark St. Chicago, IL 60660
NEIGHBORHOOD
Edgewater
PRICE
$6,500,000
NUMBER OF UNITS
52
CAP RATE
7.23%
PROPERTY LISTED

Essex Realty Group, Inc. is proud to exclusively market for sale 5935 N. Clark St. The Subject Property is located at the corner of Ridge Avenue and Clark Street, immediately north of Andersonville in the Edgewater neighborhood of Chicago. The 52-unit mixed-use, walk-up style building is comprised of thirty-four (34) studios, twelve (12) 1Bd/1Ba units, three (3) non-conforming 1Bd/1Ba units, one (1) 2Bd/1Ba unit, two (2) non-conforming 2Bd/1Ba units, 18,930 SF of commercial space and a 24-car underground garage.

LOCATION DETAILS

The Subject Property is also located just 0.25 miles from the newly funded Peterson-Ravenswood Metro Station. This station is expected to significantly rejuvenate the surrounding area and further expand Andersonville’s footprint. Additionally, current ownership will master-lease approximately 9,700 SF of vacant retail space for $8.59/SF/YR. for up to three years. This equates to $6,944 in monthly income. This allows an investor to maintain steady cash flow while repositioning the vacant space.

HIGHLIGHTS
  • Acquire scale one block north of Andersonville
  • Located 0.25 from newly funded Peterson-Ravenswood Metra Station
  • 64% of units have renovated kitchens and baths
  • Rental upside: Average monthly rents are approximately $100 below market
  • Multiple commercial value-add opportunities
  • 3-year master lease on vacant commercial space
LISTING BROKERS
Doug Imber
President
773.305.4902
Kate Varde
Principal
773.305.4908
Clay Maxfield
Director
773.305.4852