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Mixed-Use

1542 North Damen Avenue / 2010 West Pierce Avenue

1542 N Damen Ave, Chicago, IL 60622

Listing Price: $16,625,000

Cap Rate
6.25%
Number of Units
27
Occupancy
97.0%
Price/Unit
$615,741
Price/Gross SF
$375.09
Gross SF
44,323

Investment Overview

Marcus & Millichap is pleased to present 1542 North Damen Avenue / 2010 West Pierce Avenue, a strategically located mixed-use investment property in the Wicker Park/Bucktown neighborhood of Chicago, Illinois. This property consists of 22 multifamily units and 5 commercial spaces at the corner of Damen and Pierce.

UNIT MIX
• 22 Multifamily Units
o 3 1-Bed/1-Bath
o 1 2-Bed/1.5 Bath
o 18 2-Bed/2-Bath

• 5 Commercial Spaces
o 3 On Damen Avenue
o 2 On Pierce Avenue - Gross Leases

The property sits in the heart of one of Chicago’s most desirable and vibrant neighborhoods, with easy access to public transit (CTA Blue Line Damen Stop) and a range of amenities.
With generous floor plans, these apartments provide tenants with ample living space and elevator access to each floor, setting them apart from typical units in the neighborhood. With its desirable unit mix, stable cash flow, and prime location, 1542 North Damen Avenue & 2010 West Pierce Avenue offers an outstanding investment opportunity for investors seeking long-term value in one of Chicago’s most dynamic neighborhoods.

LOCATION ADVANTAGES
Located in Wicker Park/Bucktown, an area renowned for its artistic vibe, trendy shops, and restaurants, this property offers great tenant demand and investment potential.
• Public Transit: The property is within walking distance of CTA Blue Line and multiple bus routes, offering convenient access to downtown Chicago.
• Retail & Entertainment: The area boasts a lively art scene, bars, restaurants, and boutique shops, contributing to a strong rental market.
• Commuting: With easy access to I-90/94, residents can quickly connect to thee city’s major employment hubs and cultural attractions.

Investment Highlights

  • 22-Unit Multifamily Component with Steady Rental Demand
  • Ability to Convert Unit 201 to Multifamily, with Minor Improvements Needed
  • 5 Fully-Leased Commercial Spaces
  • Ample Garage and Outdoor Parking
  • Large Units
  • In-Unit Laundry
  • Long History of High Occupancy
  • Strategic Location in Wicker Park/Bucktown, Steps from North and Damen Intersection

Exclusively Listed By

  • Kyle A. Stengle

    Senior Managing Director Investments

    (312) 327-5455

    Email Kyle

    License(s): IL: 475.138461

    Chicago Downtown

Mixed-Use

1542 North Damen Avenue / 2010 West Pierce Avenue

Listing Price: $16,625,000

Cap Rate
6.25%
Number of Units
27
Occupancy
97.0%
Price/Unit
$615,741
Price/Gross SF
$375.09
Gross SF
44,323

Investment Highlights

  • 22-Unit Multifamily Component with Steady Rental Demand
  • Ability to Convert Unit 201 to Multifamily, with Minor Improvements Needed
  • 5 Fully-Leased Commercial Spaces
  • Ample Garage and Outdoor Parking
  • Large Units
  • In-Unit Laundry
  • Long History of High Occupancy
  • Strategic Location in Wicker Park/Bucktown, Steps from North and Damen Intersection

Investment Overview

Marcus & Millichap is pleased to present 1542 North Damen Avenue / 2010 West Pierce Avenue, a strategically located mixed-use investment property in the Wicker Park/Bucktown neighborhood of Chicago, Illinois. This property consists of 22 multifamily units and 5 commercial spaces at the corner of Damen and Pierce. UNIT MIX • 22 Multifamily Units o 3 1-Bed/1-Bath o 1 2-Bed/1.5 Bath o 18 2-Bed/2-Bath • 5 Commercial Spaces o 3 On Damen Avenue o 2 On Pierce Avenue - Gross Leases The property sits in the heart of one of Chicago’s most desirable and vibrant neighborhoods, with easy access to public transit (CTA Blue Line Damen Stop) and a range of amenities. With generous floor plans, these apartments provide tenants with ample living space and elevator access to each floor, setting them apart from typical units in the neighborhood. With its desirable unit mix, stable cash flow, and prime location, 1542 North Damen Avenue & 2010 West Pierce Avenue offers an outstanding investment opportunity for investors seeking long-term value in one of Chicago’s most dynamic neighborhoods. LOCATION ADVANTAGES Located in Wicker Park/Bucktown, an area renowned for its artistic vibe, trendy shops, and restaurants, this property offers great tenant demand and investment potential. • Public Transit: The property is within walking distance of CTA Blue Line and multiple bus routes, offering convenient access to downtown Chicago. • Retail & Entertainment: The area boasts a lively art scene, bars, restaurants, and boutique shops, contributing to a strong rental market. • Commuting: With easy access to I-90/94, residents can quickly connect to thee city’s major employment hubs and cultural attractions.

Exclusively Listed By

  • Kyle A. Stengle

    Senior Managing Director Investments

    (312) 327-5455

    Email Kyle

    License(s): IL: 475.138461

    Chicago Downtown

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