Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase two adjacent retail buildings on Clark Street in the sought-after north side neighborhood of Andersonville. This two-building portfolio is located at the 50-yard line in this foot traffic heavy retail trade area, which runs along Clark, roughly between Winnemac to the south and Ridge to the north. Retail vacancies along this strip hover right around three percent, which should help a new owner maintain consistent cash flows over their hold period and allow them to push rents over time. Big Jones is one of the most acclaimed restaurants in the city of Chicago, as well as within the Andersonville neighborhood. They opened for business in 2008 and over the last 20 years have garnered James Beard nominations year after year, as well as being regularly recognized by Eater and The Infatuation. Recently, Big Jones signed a 10-year extension with three percent annual increases, anchoring the property’s income stream and providing meaningful lift to the future cash flows. The other tenants include Kriser’s Natural Pet Food (which also operates a fullservice groomer), Sandbox Baby Boutique, and a Chiropractor’s office, located above Big Jones. This synergistic tenant mix is optimized to serve the needs of this neighborhood location. With nearly 75,000 people living within one-mile of this property, area density is remarkable, with incomes hovering right around $100k per year. Young professionals have moved to Andersonville in significant numbers over the last decade, in large part attracted by the amenities offered by the unique retail offerings along Clark. This is a rare opportunity to acquire a significant amount of fee simple scale in Andersonville. Positioned on .21AC of land, the property also has 75 feet of frontage on North Clark Street.