Colliers International | Chicago’s executive vice president, Peter Block, represented Zimmerman Family Trust in its sale of 3101 N. Clark Street, a 23,000-sqaure-foot site located in a Chicago’s Lakeview neighborhood, to Newcastle Properties. The sale price was $6.6 million.
3101 N. Clark Street is currently a one-story, four-tenant commercial retail building anchored by CVS Pharmacy. The property also includes two restaurants—the most notable of which is Domino’s Pizza. The property is located in one of the most desirable retail corridors in Chicago, at the corner of Clark Street, Halsted Street and Barry Avenue. It also offers key visibility points and easy access via car, transit and foot.
“With such a dynamic location there is significant upside to this property,” said Block. “The current income provides the buyer of this asset the opportunity to explore an upscale retail development or a development focused on a multi-story residential building with a retail base.”
