Overview
33 Realty is pleased to bring to market 6542 N. Clark St. and 6550 N. Clark St. both located in Chicago, IL. The property at 6542 N. Clark St. is an operating self-storage facility with 256 storage lockers (88% leased) and managed by Extra Space Storage. The 6550 N. Clark St. property is a 14,285 SF industrial building that could be renovated into 172 new storage lockers (10,000 rentable SF). A second option for this site is to demolish the existing building and to redevelop into a larger self-storage facility. The new building would have four floors for a total 49,018 SF building with approximately 35,000 net rentable SF and 460 new lockers. The city has approved the zoning for the new building and a complete set of plans are available. After redevelopment, the buyer could create management efficiencies between both properties.
Investment Highlights
- The 6542 N. Clark St. building has 256 lockers that are 88% leased and managed by Extra Space Storage.
- New lockers with keyless entry (Noke smart entry system), upgraded elevator, new overhead doors, and loading area (Noke controlled access).
- 6550 N. Clark St is an industrial building with a curb cut and located at a signalized intersection.
- Approved zoning for 6550 N. Clark St. for self-storage which has been difficult to obtain in Chicago.
- Opportunity to create operational efficiencies across both properties.
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