Picture of

2701-03 North Clark The Leon Hotel

Inquire about
2701-03 North Clark

Floorplans

View floorplans

About 2701-03 North Clark

Nestled in the bustling heart of Lincoln Park, just a few blocks from the lake, the Leon Hotel presents a unique opportunity with its 48-unit SRO, commercial storefront, and garage. This 3-story property offers affordable housing and features shared bathrooms on each floor (three stalls and two urinals) alongside a convenient sink in every room. The second floor boasts a welcoming common lobby, while the unit mix comprises six larger rooms per floor and 36 standard SRO units. To simplify redevelopment or renovation for the next owner, the current owner has kept most units, including the commercial space, unoccupied, significantly reducing relocation challenges. Recent upgrades to the property include a 2020 boiler installation ($35,000, with an additional $13,000 for repiping), hard-wired smoke alarms in hallways, battery-operated alarms in bedrooms, enhanced fire and heat sensors, tuck-pointing, roof re-coating, and an 80-gallon hot water heater installed three years ago. The retail space features electric heating and a fully renovated client restroom. The SRO license was recently renewed, with all violations addressed and compliance upgrades completed. The property is equipped with 400 AMPs of power for both the retail and residential spaces, positioning it as an ideal investment opportunity.

Exclusively listed by

Lincoln Park

Active lakeside park and beach meet upscale boutique shopping and world-class dining in this charming near north side Chicago neighborhood. Over the years Lincoln Park has gained a reputation as one of the city’s most desirable communities. Its shady, tree-lined residential streets and stretches of exciting entertainment and nightlife are the ideal union of serenity and fun. The majority of Lincoln Park holds an old-fashioned appeal, reinforced by rows of brown- and graystone walkups and ornate, vintage architecture. DePaul University campus adds to the neighborhood’s historic character with beautiful late-19th century buildings, while the population of students interjects a youthful energy into the area. An electric bar and club scene – favored by the younger crowd in Lincoln Park – is buffered by miles of tranquil green space and breathtaking shoreline in the neighborhood’s namesake 1,200-acre park. Summertime bursts with activity as people come from all over the city to enjoy the expansive beach, waterfront jogging and biking trails, a jam-packed schedule of street festivals and farmer’s markets, and the family favorite – the Lincoln Park Zoo.