Essex Realty Group, Inc. has been exclusively engaged to market for sale 5553 N. Clark St., a mixed-use building located in Chicago’s Andersonville neighborhood. The property is currently comprised of four (4) 3 Bd/2 Ba apartments and one (1) restaurant totaling roughly 9,200 NRSF. The building is situated on a 10,100 SF lot that includes 12+ parking spaces for the restaurant and tenants. The apartment units range from 1,500 – 1,600 SF and have all been rehabbed in the last few years. The restaurant has also been recently rehabbed and is roughly 3,000 SF and includes a full basement and patio. The restaurant, Adriatic, is owned by the property owner and does not have a lease in place. The property owner is including the business in the offering.
5553 N. Clark St. appeals to several buyer types including restauratuers, apartment investors and developers. Currently zoned C1-2 and located within a TOD district, 5553 N. Clark St. presents developers with an opportunity to acquire a large lot in one of Chicago’s most sought-after neighborhoods. The property is an ideal candidate for both luxury rentals and luxury condominiums. Redeveloping the property is also an option as the current C1-2 zoning allows for 50′ of height. This may include adding an additional floor of units to the pre-existing structure as well as developing mixed-use four-flats along Clark and Bryn Mawr.
- Mixed-Use Building Located in Andersonville
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