Grandstone Investment Sales is pleased to exclusively present Extra Space Storage, an institutional-quality self-storage facility totaling 29,678 rentable square feet (+40,000 approved expansion) across 406 climate-controlled units. Located in a dense Chicago infill market, the property represents a differentiated offering with strong underlying demand drivers and a rare, fully approved expansion component, positioning the asset for long-term value creation in a supply-constrained environment.
Strategically located at 6542 N Clark Street in Chicago, IL, the facility benefits from excellent visibility along a heavily trafficked urban corridor with daily traffic counts of 14,400 vehicles. The property is situated near major institutions and employers, including Loyola University Chicago, Presence Saint Francis Hospital, and several corporate offices along Clark Street, supporting consistent demand from residents, students, and local professionals. The surrounding trade area includes over 712,045 residents within five miles and is characterized by low self-storage saturation, with approximately 1.8 NRSF per capita within one mile and 4.9 NRSF per capita within three miles, reinforcing the site’s strong competitive positioning.
The offering provides a rare opportunity to expand an existing facility in-place, with plans and approvals secured to rebuild the second parcel, adding approximately 40,000 rentable square feet. Barriers to entry in this urban submarket are significant, as developable parcels are scarce, zoning restrictions are stringent, and few remaining sites can accommodate self-storage development. As a result, new supply in the immediate corridor is limited, enhancing the long-term value of both the existing facility and the approved expansion and positioning the asset for durable performance in one of Chicago’s most supply-constrained infill markets.
INVESTMENT
HIGHLIGHTS
- PURCHASE PRICE – $8,920,000
- NET RENTABLE SQUARE FEET – 29,678 SF (+40,000 APPROVED EXPANSION OPPORTUNITY)
- TOTAL UNITS – 406 CLIMATE-CONTROLLED UNITS
- PHYSICAL OCCUPANCY – 91%
- ECONOMIC OCCUPANCY – 62.38%
- STRATEGIC CHICAGO LOCATION – OFFERS EXCELLENT VISIBILITY IN A HIGH-TRAFFIC URBAN CORRIDOR (14,400 VEHICLES DAILY)
- EXPANSION UPSIDE – PLANS AND APPROVALS IN PLACE TO ADD ~40,000 RENTABLE SF
- BARRIERS TO ENTRY – DEVELOPABLE LAND IN THIS URBAN CORRIDOR IS SCARCE, ZONING IS RESTRICTIVE, AND FEW PARCELS EXIST THAT CAN SUPPORT SELF-STORAGE DEVELOPMENT
- STRONG DEMOGRAPHICS AND LOW SATURATION – 712,045 RESIDENTS WITHIN 5 MILES; LOW LOCAL STORAGE SUPPLY (1.8 NRSF/CAPITA WITHIN 1 MILE, 4.9 NRSF/CAPITA WITHIN 3 MILES)
- MAJOR LOCAL EMPLOYERS – LOCATED NEAR LOYOLA UNIVERSITY CHICAGO, PRESENCE SAINT FRANCIS HOSPITAL, AND CORPORATE OFFICES
- URBAN INFILL BENEFITS – DENSE RESIDENTIAL AND COMMERCIAL DEVELOPMENT SUPPORTS LONG-TERM RENTAL GROWTH IN A HIGH-DEMAND MARKET
Brian Brockman | Bang Realty Inc | bor@bangrealty.com | License: 678573
