1735 Damen AveChicago, IL 60647

Property Details for 1735 Damen Ave

Year built

1934

Lot size

0.07 AC

Property size (Sq ft)

5,900 SF

Property type

Retail space

APN

14-31-416-011

APU

1431416011

Description

This exceptional investment opportunity presents a 4,747 square foot, two-tenant retail property in Chicago's vibrant Bucktown/Wicker Park neighborhood. The property boasts 100% occupancy with a strong national tenant mix: Chipotle, operating under a net lease since 2004 and recently renewing their lease, and Playa Bowls, a rapidly expanding superfruit bowl shop with a new 10-year lease featuring 2.5% annual rent escalations. The property features approximately 148 feet of frontage on N. Damen Avenue, a highly desirable retail corridor with significant foot traffic and proximity to the six-corner intersection of Damen, Milwaukee, and North Avenues (approximately 145,000 vehicles per day). The location benefits from excellent public transportation access, including the CTA Blue Line and multiple bus routes, as well as proximity to the 606 trail. Strong demographics within a one-mile radius include an average household income of $154,002, a median home value of $625,658, and a total population of 57,052. The property is situated on a 5,808 square foot lot with four parking spaces and offers a 7.14% cap rate with a Net Operating Income (NOI) of $242,790. The asking price is $3,400,000. The property is zoned B3-2 and consists of one single-story building with two units. This is a rare opportunity to acquire a well-positioned, high-performing retail investment in a prime Chicago location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,787,255

  6.5%

  $2,572,851

  7%

  $2,389,076

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,936,557

  Geo Method

  $1,936,557

• Alternative Use

  Use

  Valuation

  Residential

  $2,170,296

  Hospitality

  $1,987,979

  Educational

  $1,653,976

  Medical

  $1,710,858

  Retail

  $2,572,851

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9134

Longitude

-87.6772

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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