Price Reduction
Address
6340 N Clark Street, Chicago, IL
Price
$ 2,850,000
Property Attributes
- MLS#11997012
- TypeCommercial
- CountyCOOK
- CityChicago
- AreaCHI - Edgewater
- NeighborhoodEdgewater
- Zip60660
- Style
- Year Built1917
- Taxes$ 32927
- Price$ 2,850,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage14280
- Lot Size11,448 SqFt
Data Source:
Midwest Real Estate Data (MRED)
Property Description
6334-40 North Clark Street is a 2-story mixed-use investment property with three (3) street level retail units, leased by Gracie O'Malley's, a popular Chicago Bar with three downtown locations (Edgewater, Wicker Park, and Six Corners), Sauce and Bread Kitchen (SBK), and Co-op Sauce. Sauce and Bread Kitchen (SBK) owns and operates Co-op Sauce and the two adjacent suites are on the same lease. The apartments are comprised of twelve (12) residential units consisting of one (1) Studio unit, five (5), 1-Bedroom/1-Bathroom units, three (3), 2-Bedroom/1-Bathroom units, two (2), 3-Bedroom/2 Bathroom units, and one (1), 4-Bedroom/2-Bathroom unit. The Property also features a detached four bay garage, which can generate additional revenue. The property benefits from rehabbed commercial spaces, updated plumbing and electric, and a brand new tear off completed in 2024. With strong commercial tenants and 100% occupancy on the apartments, this stable investment presents plenty of additional upside.
| Price History | |
|---|---|
| 3/6/2024 | Listed $3,200,000 |
| 4/1/2024 | 7% - $2,999,000 |
| 5/10/2024 | 5% - $2,850,000 |
General Features
| Cooling | Window Unit(s) |
|---|---|
| Zoning | COMMR |
| Year Built | 1917 |
| Electric | Over 600 Amps |
| Tenant Pays | Electricity |
| Stories | 2 |
| Property SubType | Apts/Stores |
| Tax Year | 2022 |
| Gross Income | 316140 |
| County | Cook |
| Net Operating Income | 213755 |
| Operating Expense | 105355 |
| Insurance Expense | 18228 |
| Property Type | Commercial Sale |
| Status | Price Change |
| Directions | Property is located on the southwest corner of Clark and Devon,just south of the Shell Gas Station. |
| City | Chicago |
| Total Units | 15 |
| MLS Area | CHI - Edgewater |
| Lot Size Square Feet | 11448 |
| Street Name | Clark |
| Tax Annual Amount | 32927 |
| Electric Expense | 1500 |
| Fuel Expense | 9000 |
| Trash Expense | 4056 |
| Water Sewer Expense | 9900 |
| Additional Parcels Y/N | No |
| Days on Market | 67 |
| Standard Status | Active |
| Property Type | Mixed Use |
Interior Features
| Street Suffix | Street |
|---|
Exterior Features
| Building Area Total | 14280 |
|---|---|
| Lot Dimensions | 75X125 |
| Exterior | Brick |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 60660
Price
Taxes
Visits
Year Built
