637 & 645 S. Clark Street
Mixed Use | 6.00% CAP | 17,125 SqFt
Marketing description
This is a portfolio sale consisting of two interconnected properties at 637 & 645 S. Clark Street in Chicago's Printers Row / South Loop neighborhood.
637 S. Clark St. is a one-story brick bow truss building interconnected to a two-story brick building. The second floor features a 2,000 SF, one-bedroom, one-bath apartment with a garage. The one-story brick building totals 7,125 square feet and is currently occupied by a CrossFit gym, with potential availability. The Site is 75' W x 100' D. The property is zoned DX-12 (downtown mixed-use).
645 S. Clark St. is a four-story brick building that features approximately 2,500 square feet per floor, plus a full basement. The property has an elevator and offers potential for a rooftop. The site measures 25' x 100'.
Investment highlights
- 637 S. Clark St. - Total Rent: $239,000/yr with Net Income: $122,900
- 645 S. Clark St. - Total Rent: $224,560/yr with Net Income: $172,959
- 645 S. Clark St. offers rooftop potential
- Floors 2-4 at 645 S. Clark St. need gut rehab with projected rent of $105,000/yr for 3 apartments
- Near Grant Park, Metra Station, Immigration Office
- Planned development: The 78 & Chicago Fire Soccer Stadium
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