3801 North Clark Street, Chicago, IL 60613 For Sale

3801 N Clark Street is a 100%-occupied, mixed-use corner building at Clark, Racine & Grace in Chicago's Wrigleyville submarket. The property comprises five residential units and two street level retail tenants — Almost Home Tavern and Cloud Cookie — with staggered lease expirations and over $1.2M in completed capital improvements, reducing near-term expenditure requirements. In-place income reflects two conditions: a residential base with rents not reset to current market levels, and a retail NNN structure where reimbursements are contractually required but set at 25% of building expenses — below Almost Home's actual 37.58% proportionate footprint. The billboard space remains unactivated pending permit finalization with Doyle Signs. A proposed lease restructure — maintaining Almost Home's base rent while correcting the reimbursement basis and activating the billboard — is projected to add approximately $24,000 in annual NOI without displacing any tenant. Opportunities of this nature — where occupancy is stable, capital has been deployed, and upside is unlocked through lease administration alone — are uncommon in this submarket.

Nestled in the heart of Chicago, the area surrounding the property offers a prime location for retail and street retail investment. Boasting a vibrant atmosphere, the neighborhood is home to a diverse array of dining, shopping, and entertainment options. Within walking distance, well-known attractions such as Wrigley Field and the bustling Clark Street corridor draw visitors and locals alike. The area benefits from high foot traffic and excellent visibility, making it an ideal setting for retail businesses to thrive. With its proximity to public transportation and major thoroughfares, the location presents a strategic opportunity for retail investors looking to capitalize on the dynamic energy and commercial potential of this bustling city.