Essex Realty Group has been exclusively engaged to market for sale 5154 N Clark Street, a vintage 91-unit mixed-use asset at the prominent corner of Clark, Foster, and Ashland in the heart of Chicago’s Andersonville neighborhood. The property, scaling a full city block, is comprised of 81 residential units (43,800 SF) and 10 first-floor retail and restaurant storefronts (20,000 SF).
Available for the first time in over 40 years, the Subject Property has been very well maintained and features several recent capital expenditures including new electric service, a modernized elevator system and newer windows and boiler.
The defining feature of this offering is its exceptional embedded upside. In-place residential rents are approximately 40-60% below market as-is, with little-to-no rehab required. As units turn and rents are increased to market, apartment income is projected to grow approximately 50%, or $500,000. Retail upside is also present as all tenants are on gross leases at below market rates.
Location Summary
5154 N Clark Street is situated at the heart of Chicago’s Andersonville neighborhood at the corner of Clark and Foster – the neighborhood’s unofficial central hub.
The Subject Property is a short walk to three CTA Red Line stations at Berwyn, Argyle, and Bryn Mawr, all rebuilt and reopened in July 2025 as part of the $2.1 billion Red and Purple Modernization program, with Metra Union Pacific North service at Ravenswood roughly six tenths of a mile away. Additionally, several bus lines are accessible at Ashland, Clark and Foster.
Andersonville remains one of Chicago’s most tightly held, renter-by-choice North Side submarkets, defined by a supply-constrained stock of vintage buildings and a vibrant independent retail scene. For value-add operators, 1031 exchange buyers, and long-term holders alike, 5149-5161 North Ashland offers a rare combination of scale, a below-market basis, durable mixed-use income, and a genuinely irreplaceable corner in one of the city’s most enduring neighborhoods.
Andersonville stands as one of Chicago’s most coveted and tightly held North Side neighborhoods, occupying the southwest quadrant of the Edgewater community area and centered on a vibrant Clark Street corridor that has earned the area its reputation as the city’s “shop local capital,” home to one of the densest concentrations of independent restaurants, boutiques, and bars in Chicago.
Rooted in a celebrated Swedish heritage and recognized today as one of the city’s most diverse and inclusive communities, the neighborhood pairs historic low-rise architecture and tree-lined residential streets with an educated, renter-by-choice population of roughly 20,700 residents, a median age of 37, a median household income near $68,600, and a college-attainment rate around 60 percent. Its appeal is reinforced by exceptional connectivity, anchored by three CTA Red Line stations at Berwyn, Bryn Mawr, and Argyle that were completely rebuilt and reopened in July 2025 as part of the $2.1 billion Red and Purple Modernization program, delivering brand-new, fully accessible stations with a direct ride to downtown, complemented by nearby Metra service and proximity to major institutional anchors such as Loyola University and the Edgewater medical corridor.
Andersonville offers investors a rare combination of irreplaceable location, new transit infrastructure, and durable rental demand that together make it one of Chicago’s most resilient and desirable multifamily submarkets.
- Irreplaceable Location in the Heart of Andersonville
- 81 Apartments & 10 Retail Spaces
- Significant Value-Add Opportunity - Apt Rents 40% Below Market As-Is
- First Time Available in 40+ Years - Well Maintained with Newer Mechanicals
- Prime Transit Oriented Location - .5 Miles to CTA Red Line
- Steps to Desirable Restaurants, Bars and Shopping