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3240 N Clark St 8 Unit Apartment Building $2,452,249 CAD ($306,531 CAD/Unit) 5.74% 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 2,432 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 2,457 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 (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$267,677
|
$54.63
|
| Other Income |
$6,227
|
$1.27
|
| Vacancy Loss |
$9,587
|
$1.96
|
| Effective Gross Income |
$264,317
|
$53.94
|
| Taxes |
$42,602
|
$8.69
|
| Operating Expenses |
$43,486
|
$8.87
|
| Total Expenses |
$86,087
|
$17.57
|
| Net Operating Income |
$178,230
|
$36.37
|
Financial Summary (Pro Forma - 2027)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $267,677 |
| Annual Per SF | $54.63 |
| Other Income (CAD) | |
|---|---|
| Annual | $6,227 |
| Annual Per SF | $1.27 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $9,587 |
| Annual Per SF | $1.96 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $264,317 |
| Annual Per SF | $53.94 |
| Taxes (CAD) | |
|---|---|
| Annual | $42,602 |
| Annual Per SF | $8.69 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $43,486 |
| Annual Per SF | $8.87 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $86,087 |
| Annual Per SF | $17.57 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $178,230 |
| Annual Per SF | $36.37 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 600 - 850 |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 14-20-426-031-0000 | Total Assessment | $193,829 CAD (2025) |
| Land Assessment | $36,743 CAD (2025) | Annual Taxes | $42,602 CAD ($6.35 CAD/SF) |
| Improvements Assessment | $157,086 CAD (2025) | Tax Year | 2027 |
Property Taxes
Parcel Number
14-20-426-031-0000
Land Assessment
$36,743 CAD (2025)
Improvements Assessment
$157,086 CAD (2025)
Total Assessment
$193,829 CAD (2025)
Annual Taxes
$42,602 CAD ($6.35 CAD/SF)
Tax Year
2027
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3240 N Clark St
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