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Mixed-Use

935-937 West Armitage Avenue

935-937 W Armitage Ave, Chicago, IL 60614

Listing Price: $6,950,000

Cap Rate
6.24%
Number of Units
9
Occupancy
97.0%
Price/Unit
$772,222
Price/Gross SF
$620.15
Gross SF
11,207

Investment Overview

PROPERTY OVERVIEW
935 West Armitage Avenue is a corner mixed-use asset located in the heart of Chicago’s highly desirable Lincoln Park neighborhood. The asset has an attractive unit mix with upside rent potential and the retail is anchored by a recently signed lease with Wintrust Bank. Positioned along the Armitage Avenue corridor, the property benefits from strong visibility and immediate access to one of the city’s most established retail and dining districts while remaining embedded within a dense residential community. Lincoln Park is consistently recognized as one of Chicago’s most stable and high-demand submarkets, supported by strong household incomes, top-ranked schools, and limited opportunities for new development.
The property is surrounded by a vibrant mix of boutiques, restaurants, and neighborhood-serving retail, creating a highly walkable environment. Residents and patrons benefit from convenient access to the CTA Brown and Purple Lines at Armitage Station, along with multiple bus routes providing efficient connectivity to downtown and surrounding employment centers.
UNIT MIX
4 UNITS: 1 BEDROOM / 1 BATHROOM
3 UNITS: 2 BEDROOM / 2 BATHROOM
1 UNIT: 3 BEDROOM / 2 BATHROOM
1 COMMERCIAL: OCCUPIED BY WINTRUST BANK
TOTAL: 9 UNITS (8 MULTIFAMILY / 1 RETAIL)
INVESTMENT RATIONALE
935 West Armitage Avenue offers investors exposure to one of Chicago’s most supply constrained and lifestyle-driven neighborhoods. The combination of premier retail frontage, strong transit access, and dense surrounding residential demand supports durable occupancy and long-term stability. With a unit mix serving the local renter population, the property is well positioned for sustained performance in a core Lincoln Park location.

Investment Highlights

  • Prime Lincoln Park Location
  • Attractive Unit Mix: One Bedroom, Two-Bedroom, And Three-Bedroom Layouts
  • In-Place Rents Are Below Market
  • Strong Commercial Tenant Leased Through 2034

Exclusively Listed By

  • Kyle A. Stengle

    Senior Managing Director Investments

    (312) 327-5455

    Email Kyle

    License(s): IL: 475.138461

    Chicago Downtown

Mixed-Use

935-937 West Armitage Avenue

Listing Price: $6,950,000

Cap Rate
6.24%
Number of Units
9
Occupancy
97.0%
Price/Unit
$772,222
Price/Gross SF
$620.15
Gross SF
11,207

Investment Highlights

  • Prime Lincoln Park Location
  • Attractive Unit Mix: One Bedroom, Two-Bedroom, And Three-Bedroom Layouts
  • In-Place Rents Are Below Market
  • Strong Commercial Tenant Leased Through 2034

Investment Overview

PROPERTY OVERVIEW 935 West Armitage Avenue is a corner mixed-use asset located in the heart of Chicago’s highly desirable Lincoln Park neighborhood. The asset has an attractive unit mix with upside rent potential and the retail is anchored by a recently signed lease with Wintrust Bank. Positioned along the Armitage Avenue corridor, the property benefits from strong visibility and immediate access to one of the city’s most established retail and dining districts while remaining embedded within a dense residential community. Lincoln Park is consistently recognized as one of Chicago’s most stable and high-demand submarkets, supported by strong household incomes, top-ranked schools, and limited opportunities for new development. The property is surrounded by a vibrant mix of boutiques, restaurants, and neighborhood-serving retail, creating a highly walkable environment. Residents and patrons benefit from convenient access to the CTA Brown and Purple Lines at Armitage Station, along with multiple bus routes providing efficient connectivity to downtown and surrounding employment centers. UNIT MIX 4 UNITS: 1 BEDROOM / 1 BATHROOM 3 UNITS: 2 BEDROOM / 2 BATHROOM 1 UNIT: 3 BEDROOM / 2 BATHROOM 1 COMMERCIAL: OCCUPIED BY WINTRUST BANK TOTAL: 9 UNITS (8 MULTIFAMILY / 1 RETAIL) INVESTMENT RATIONALE 935 West Armitage Avenue offers investors exposure to one of Chicago’s most supply constrained and lifestyle-driven neighborhoods. The combination of premier retail frontage, strong transit access, and dense surrounding residential demand supports durable occupancy and long-term stability. With a unit mix serving the local renter population, the property is well positioned for sustained performance in a core Lincoln Park location.

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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