Description

Marcus & Millichap is pleased to present the opportunity to acquire the fee simple interest in 5228 N Clark Street, a highly visible retail property located in the heart of Chicago’s sought-after Andersonville neighborhood. Positioned along one of the area’s most established retail corridors, the building stands out with 45 feet of frontage on Clark Street, a distinctive white-tile façade, and prominent illuminated signage that provides exceptional visibility and branding exposure. The property offers a stable and attractive income stream, supported by a diversified tenant roster and a weighted average lease term of nearly seven years. 2nd Street recently commenced a 10-year lease featuring annual rent increases, while Gus Giordano Dance School, a long-term tenant with approximately 15 years of operating history at the location, recently extended its lease for an additional five years with built-in rent growth. The lease structure provides strong expense recovery, with both tenants reimbursing real estate taxes and 2nd Street operating under a triple-net lease that includes reimbursement of a majority of operating expenses. Situated on approximately 6,534 square feet of land—slightly larger than a standard Chicago double lot—the property benefits from additional underlying real estate value. Its location at the three-way intersection where Farragut Avenue terminates into Clark Street further enhances visibility and accessibility. Surrounded by a dense residential population and a strong demographic profile, the property is positioned within a thriving neighborhood that has attracted a growing number of young professionals drawn to Andersonville’s unique mix of retail, dining, and entertainment offerings. With a stabilized rent roll, embedded rental growth, and a premier location within one of Chicago’s strongest urban retail markets, 5228 N Clark Street represents an outstanding opportunity for investors seeking reliable cash flow and long-term appreciation potential.