1200 N Clybourn Ave
Chicago, IL 60610 Near North Side

• Unit Size: 16,433 SF
• Condo Use: Retail
• Price: Price Upon Request
• Sale Type: Investment

Sale Notes

CBRE is pleased to present, as the exclusive advisor, the offering of 1200 North Clybourn Avenue a 16,433 SF retail center located in the heart of one of Chicago’s premier markets, Old Town. The asset is currently ~79% occupied and presents the value-add opportunity to lease up the 3,500 SF of avchailable space. The three existing tenants are all service-oriented businesses operating at the Property since inception in 2018.

 

The asset is adjacent to Old Town Square, a grocery-anchored shopping center, which serves as a significant draw for the neighborhood. The Property’s meaningful location is further amplified by its position along major arterial roads, Division St & Clybourn Avenue, which combines for over 30,000 VPD. Within the heart of Old Town, the Property is able to service a widely diverse, and affluent trade area with average household incomes surpassing the national average by 63%. The Old Town neighborhood features some of the most attractive demographics in the city. Over 94,000 residents live within a 1-mile radius of the center and have an average household income of $191,429. To keep up with the growing demand and affluent resident base, there have been several high-end apartments and mixed-use developments completed with many proposed developments out for approval.

1200 North Clybourn Avenue presents a tremendous opportunity for future investors to acquire a value-add opportunity, with a long-standing operating history and strong underlying real estate fundamentals, including desirable urban densities, strong household incomes, and a large trade area.