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3240 N Clark St 8 Unit Apartment Building $2,404,854 CAD ($300,607 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 |
$262,504
|
$53.57
|
| Other Income |
$6,107
|
$1.25
|
| Vacancy Loss |
$9,402
|
$1.92
|
| Effective Gross Income |
$259,209
|
$52.90
|
| Taxes |
$41,778
|
$8.53
|
| Operating Expenses |
$42,645
|
$8.70
|
| Total Expenses |
$84,423
|
$17.23
|
| Net Operating Income |
$174,785
|
$35.67
|
Financial Summary (Pro Forma - 2027)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $262,504 |
| Annual Per SF | $53.57 |
| Other Income (CAD) | |
|---|---|
| Annual | $6,107 |
| Annual Per SF | $1.25 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $9,402 |
| Annual Per SF | $1.92 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $259,209 |
| Annual Per SF | $52.90 |
| Taxes (CAD) | |
|---|---|
| Annual | $41,778 |
| Annual Per SF | $8.53 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $42,645 |
| Annual Per SF | $8.70 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $84,423 |
| Annual Per SF | $17.23 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $174,785 |
| Annual Per SF | $35.67 |
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 | $190,460 CAD (2025) |
| Land Assessment | $36,104 CAD (2025) | Annual Taxes | $41,778 CAD ($6.23 CAD/SF) |
| Improvements Assessment | $154,356 CAD (2025) | Tax Year | 2027 |
Property Taxes
Parcel Number
14-20-426-031-0000
Land Assessment
$36,104 CAD (2025)
Improvements Assessment
$154,356 CAD (2025)
Total Assessment
$190,460 CAD (2025)
Annual Taxes
$41,778 CAD ($6.23 CAD/SF)
Tax Year
2027
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3240 N Clark St
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