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Mixed-Use

1640 North Damen Avenue

1640 N Damen Ave, Chicago, IL 60647

Listing Price: $6,500,000

Cap Rate
6.51%
Number of Units
7
Occupancy
95.0%
Price/Unit
$928,571
Price/Gross SF
$612.92
Gross SF
10,605

Investment Overview

Marcus & Millichap is pleased to present this mixed-use opportunity in the prime Wicker Park neighborhood of Chicago, Illinois. The subject property features six apartments; three one-bedroom/one-bathroom units and three two-bedroom/one-bathroom units, and the first floor is occupied by One Medical, a membership-based primary care office operated by Amazon. The apartments feature exposed brick, hardwood floors, granite countertops, and stainless steel appliances. The subject property is a located at the north end of one
of the most sought after neighborhoods in the city, Wicker Park. Known for its late night venues and art, working Chicagoans flock to the neighborhood due to the easily accessible transit options to downtown and the amount of commercial retail and entertainment establishments. The neighborhood also features numerous art galleries that draw Chicago artists to the area.

Investment Highlights

  • Mixed-Use Property in Wicker Park
  • Strong Rental Market and Desirable Unit Mix
  • Corporate Guaranteed Retail Lease through 2030

Exclusively Listed By

  • Kyle A. Stengle

    Senior Managing Director Investments

    (312) 327-5455

    Email Kyle

    License(s): IL: 475.138461

    Chicago Downtown

Mixed-Use

1640 North Damen Avenue

Listing Price: $6,500,000

Cap Rate
6.51%
Number of Units
7
Occupancy
95.0%
Price/Unit
$928,571
Price/Gross SF
$612.92
Gross SF
10,605

Investment Highlights

  • Mixed-Use Property in Wicker Park
  • Strong Rental Market and Desirable Unit Mix
  • Corporate Guaranteed Retail Lease through 2030

Investment Overview

Marcus & Millichap is pleased to present this mixed-use opportunity in the prime Wicker Park neighborhood of Chicago, Illinois. The subject property features six apartments; three one-bedroom/one-bathroom units and three two-bedroom/one-bathroom units, and the first floor is occupied by One Medical, a membership-based primary care office operated by Amazon. The apartments feature exposed brick, hardwood floors, granite countertops, and stainless steel appliances. The subject property is a located at the north end of one of the most sought after neighborhoods in the city, Wicker Park. Known for its late night venues and art, working Chicagoans flock to the neighborhood due to the easily accessible transit options to downtown and the amount of commercial retail and entertainment establishments. The neighborhood also features numerous art galleries that draw Chicago artists to the area.

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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