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3240 N Clark St 8 Unit Apartment Building $2,415,080 CAD ($301,885 CAD/Unit) 5.72% 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 2,432 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 |
$263,620
|
$53.80
|
| Other Income |
$6,133
|
$1.25
|
| Vacancy Loss |
$9,442
|
$1.93
|
| Effective Gross Income |
$260,311
|
$53.12
|
| Taxes |
$41,956
|
$8.56
|
| Operating Expenses |
$42,826
|
$8.74
|
| Total Expenses |
$84,782
|
$17.30
|
| Net Operating Income |
$175,529
|
$35.82
|
Financial Summary (Pro Forma - 2027)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $263,620 |
| Annual Per SF | $53.80 |
| Other Income (CAD) | |
|---|---|
| Annual | $6,133 |
| Annual Per SF | $1.25 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $9,442 |
| Annual Per SF | $1.93 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $260,311 |
| Annual Per SF | $53.12 |
| Taxes (CAD) | |
|---|---|
| Annual | $41,956 |
| Annual Per SF | $8.56 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $42,826 |
| Annual Per SF | $8.74 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $84,782 |
| Annual Per SF | $17.30 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $175,529 |
| Annual Per SF | $35.82 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 600 |
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 | $191,822 CAD (2025) |
| Land Assessment | $36,363 CAD (2025) | Annual Taxes | $41,956 CAD ($6.96 CAD/SF) |
| Improvements Assessment | $155,460 CAD (2025) | Tax Year | 2027 |
Property Taxes
Parcel Number
14-20-426-031-0000
Land Assessment
$36,363 CAD (2025)
Improvements Assessment
$155,460 CAD (2025)
Total Assessment
$191,822 CAD (2025)
Annual Taxes
$41,956 CAD ($6.96 CAD/SF)
Tax Year
2027
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3240 N Clark St
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