Contacts
Tony Hardy
Keller Williams ONEChicago
Travis Montgomery
Keller Williams ONEChicago
Tracii Randolph
Keller Williams ONEChicago
Ariana Abercrumbie
Keller Williams ONEChicago
Kelly Rich
Keller Williams ONEChicago
Property Details
- Property Type Retail
- Units 0
- Lot Size 5,000 Acre
- Additional Rent Contact for pricing
- # of Floors 3
- Property Tenancy Single Tenant
- Year Built 1925
- Date Updated Nov 2, 2024
Presented by KW Commercial and Keller Williams ONEChicago. The property is located at 3219 N. Clark Street in the Lake View neighborhood of Chicago, IL. This retail space boasts a gross leasable area (GLA) of 6,992 square feet. Originally built in 1925, the building is classified as a Class C property. It is currently occupied by Blum Animal Hospital.
Financial Summary
The purchase price for this property is $2,250,000. The current base rent is $16,897 per month, which equates to $29.00 per square foot. In 2025, the base rental amount is scheduled to increase to $18,063 per month, or $31.00 per square foot. The current lease expiration date is 12/31/2027. This property is offered as a Triple Net Lease (NNN), ensuring that the tenant is responsible for property taxes, insurance, and maintenance costs.
Lease Details
The lease commenced on January 1, 2006, and ends on December 31, 2025. An amendment extends the lease for 24 months, from January 1, 2026, to December 31, 2027. During the extended term, the base rent will be $18,062.66 per month.
Tenant Information
Blum Animal Hospital, operating under VCA Animal Hospitals Inc., is the current tenant. VCA Animal Hospitals Inc. is a leading provider of pet health care services in the U.S., with a network of over 1,000 animal hospitals. They are known for their high standards of care, innovative treatment options, and commitment to pet health and wellness. The presence of such a reputable and stable tenant adds significant value and security to the investment.
Location and Market Overview
Located in the vibrant and affluent Lake View neighborhood of Chicago, the property benefits from a prime location known for its shopping, dining, and cultural attractions. It is well-served by public transportation, situated in a high-traffic area with strong pedestrian visibility. The local economy is robust, with a mix of residential, retail, and commercial properties, contributing to stable property values and rental income.
Investment Highlights
The property offers stable cash flow due to its long-term tenant, Blum Animal Hospital, providing consistent rental income with scheduled increases. The triple net lease structure minimizes the landlord's operational expenses. The prime location in Lake View attracts both residents and businesses, ensuring high demand and occupancy rates. Scheduled rent increases enhance the investment's return potential, and the presence of VCA Animal Hospitals Inc., a reputable national chain, adds security and stability.
The retail property at 3219 N. Clark Street presents a compelling investment opportunity, combining stable cash flow, a reputable long-term tenant, and a prime location in Lake View, Chicago. The triple net lease structure reduces operational responsibilities, making this an attractive option for investors seeking a low-maintenance, income-generating asset.
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Location
- City Chicago, IL
- Neighborhood Lakeview
- Zip Code 60657
- Market Chicago
Points of Interest
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Sheridan
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Tesla Supercharger
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BP
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Shell
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Volta Charging Station
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Mobil
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eVgo
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Tesla Destination Charger
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ChargePoint
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Cubs Corolla Lot
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Cubs Camry Lot
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Diversey Driving Range
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Four Belly Asian Street Food
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Istmo Oaxacan Cuisine
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Aloha Pokē Co
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Mixteco Grill
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IDOF
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Matsuya
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Poké Poké
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Gyro-Mena
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Philly's Best
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Ann Sather Restaurant
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Target
0.04 miles
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Marshalls
0.14 miles
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Mariano's Fresh Market
0.40 miles
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Jewel-Osco
0.50 miles
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Apple Bite Liquor
0.50 miles
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Whole Foods Market
0.54 miles
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The Fresh Market
0.56 miles
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Trader Joe's
0.61 miles
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TJ Maxx
0.64 miles
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Go Grocer
0.68 miles
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.