Jones Lang Lasalle (“JLL”) has been exclusively retained to offer the opportunity to acquire 2720 N. Clark (the “Property” or the “Offering”), a freestanding, Class A retail property totaling 22,160 square feet on a hard corner in Chicago’s premier Lincoln Park neighborhood. The Property features market-leading credit tenancy from Chicago Public Schools on a brand new ten-year lease, Banana Republic Factory, and Amazon Hub Locker+, providing a diversified tenant roster.
Highly accessible to consumers near the five-way intersection of Clark, Diversey, and Broadway, the Property benefits from its desirable location surrounded by the dense and affluent residential population of Lincoln Park. The Clark Street retail corridor features a dynamic mix of national and boutique retailers serving the many high-rise apartment complexes and single-family homes in the immediate area. With a walk score of 98, the Clark Street retail corridor is one of the busiest in Chicago, anchored by major grocers including Walmart Neighborhood Market, Trader Joe’s, and Target. As the best-in-class submarket in the city, Lincoln Park retail has proven incredibly resilient through 2020 with below-market vacancy and elevated sales volume vs. 2019, as investors remain hyper-focused on the area. There is a dearth of new-construction retail product in Lincoln Park, giving 2720 N. Clark a competitive advantage as one of the only freestanding Class A retail properties in a submarket that has demonstrated a premium for new-construction assets. With over eight years of WALT remaining, the deal profile provides a unique opportunity to acquire a stable long-term investment with incredible income diversification in the heart of one of the most sought-after locations in Chicago.
- Best-In-Class Infill Chicago Retail Offering
- Freestanding Retail in the Heart of Lincoln Park - Chicago's Most Coveted Neighborhood
- 100% Credit Tenants featuring a diversified roster of market-leading brands
- 100% Occupied with just under 8 Years of WALT
- Class A Construction Delivered in 2016
- Grocery-Anchored Retail Corridor Including Trader Joe's Walmart Neighborhood Market, and Target
- Below Market Vacancy and a Proven Rent Premium for New-Construction Retail in Lincoln Park
- Highly Accessible Corner Location in a Dense, High Barrier to Entry Market