1013 W Armitage Ave
Chicago, IL 60614
Retail Property For Sale

VALUE-ADD OPPORTUNITY WITH STABLE INCOME The Property is 100% leased and provides a value add opportunity. Visual Effects operates under a 10-year net lease that commenced in 2014 on the ground floor. The two apartments are both leased well below market rents. New ownership can rehab these units and even add additional bedrooms to each unit to significantly increase rental income and boost investment returns. URBAN INFILL LOCATION + PROXIMITY TO TRANSIT The Property is located just 1 block from the CTA Armitage Brown and Purple Line ‘L’ Station that experienced 1,286,106 passengers. CTA Bus route #73 travels east-west along Armitage Avenue. Armitage Avenue carries significant daily pedestrian and vehicle traffic counts. HIGH BARRIERS TO ENTRY + SUPERIOR DEMOGRAPHICS Standalone buildings along Armitage Avenue are rarely available, which has created an incredible high barrier to entry in a highly coveted Chicago neighborhood with outstanding demographics. The area within 1-mile of the Property possesses a population of 59,324 people and the average household income within 1/2 mile is $187,051. DEPAUL UNIVERSITY, TWO-BLOCK WALK With 24,000 students and 4,000 faculty / staff members, DePaul University creates apartment demand, increased daytime population counts and adds to an already vibrant environment. More than 80% of DePaul students live in off-campus housing. AREA TRANSFORMATION: LINCOLN YARDS & NORTH BRANCH Sterling Bay is transforming a former heavy manufacturing district into Lincoln Yards. This development will include new offices, retail, hotels, residential units, park space and an entertainment district. This planned development will create a new neighborhood with new infrastructure and mass-transit additions just to the west of the Property.