1560 N Damen Ave | Chicago, IL 60622
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1560 N Damen Ave
Chicago, IL 60622
Stan's Donuts · Retail Property For Sale
Investment Highlights
- Rare, Urban Infill Chicago Irreplaceable Six-Corner Mixed-Use Acquisition Opportunity
- Recent 10-Year Lease Extension w/ Annual Rental Increases
- Original Flagship Location w/ Long Term Historical Operating History
- Below Market Apartment Rents
Executive Summary
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee-simple interest in the mixed use property located at 1560 N Damen Avenue in Chicago, IL (“The Property”). The Property consists of a 4,353 square foot freestanding mixed-use building, that sits on 0.31-acre parcel of land in Chicago’s highly sought after Wicker Park-Bucktown neighborhood. The Property’s ground floor has served as Stan’s Donuts Flagship location in Chicago since 2013 and recently extended their lease at the Property for an additional ten (10) years. Additionally, Stan’s lease features rare, 2.0% annual rental increases providing a significant hedge against inflation. The 2nd and 3rd Floors of the Property are 3 bedroom/2 bathroom apartment units that are currently leased.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,353 SF
Building Class
C
Year Built
1891
Price
$3,222,000
Price Per SF
$740
Cap Rate
7%
NOI
$225,540
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.39
Lot Size
0.04 AC
Frontage
92 FT on Damen Ave
Amenities
- Signage
PROPERTY TAXES
| Parcel Number | 17-06-105-027-0000 | Improvements Assessment | $65,408 |
| Land Assessment | $14,592 | Total Assessment | $80,000 |
PROPERTY TAXES
Parcel Number
17-06-105-027-0000
Land Assessment
$14,592
Improvements Assessment
$65,408
Total Assessment
$80,000
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