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Starbucks and Nook Daycare & Preschool 2101-2111 W Armitage Ave 5,859 SF 100% Leased Retail Building Chicago, IL 60647 $3,265,000 ($557.26/SF) 7.35% Cap Rate
INVESTMENT HIGHLIGHTS
- Starbucks and Nook Daycare & Preschool | Established, long-term tenants (2008 & 2016)
- Prime Bucktown location | High-visibility along Armitage Avenue (10,800 VPD)
- Significant lack of national coffee shops from the south to the west of the property
- Nook Daycare & Preschool operates 9 locations | The subject property is one of four in a two-block radius
- Located a half mile from Interstate-90/94 with 228,800 VPD | CTA and Metra Train and bus lines are all within a 0.6 mile radius of the property
- Average household income of nearly $200K within a half-mile radius | Infill location with 16,285 residents within the same radius
EXECUTIVE SUMMARY
This Bucktown asset combines stability and strong demand, anchored by Starbucks and Nook Daycare & Preschool in a fully occupied, net-leased center. Starbucks has operated at the site since 2008, exercising multiple renewal options, while Nook has been a tenant since 2016 and is now in its first renewal term with 3% annual rent increases. A proven operator, Nook runs four schools within two blocks and nine locations across Chicago.
The property sits along Armitage Avenue in the heart of Bucktown, where 10,800 vehicles pass daily, complemented by strong pedestrian and bike traffic from a nearby Divvy station and multiple CTA and Metra stops. Immediate access to I-90/94 further strengthens connectivity. With average household incomes nearing $200K within a half-mile and limited national coffee competition in the trade area, the property is well-positioned for durable, long-term performance.
The property sits along Armitage Avenue in the heart of Bucktown, where 10,800 vehicles pass daily, complemented by strong pedestrian and bike traffic from a nearby Divvy station and multiple CTA and Metra stops. Immediate access to I-90/94 further strengthens connectivity. With average household incomes nearing $200K within a half-mile and limited national coffee competition in the trade area, the property is well-positioned for durable, long-term performance.
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PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
5,859 SF
Building Class
C
Year Built
1920
Price
$3,265,000
Price Per SF
$557.26
Cap Rate
7.35%
NOI
$239,867
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.79
Lot Size
0.17 AC
Zoning
B1-2
Frontage
Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (74)
Bike Score®
Biker's Paradise (94)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 14-31-304-038-0000 | Improvements Assessment | $113,500 |
| Land Assessment | $90,000 | Total Assessment | $203,500 |
PROPERTY TAXES
Parcel Number
14-31-304-038-0000
Land Assessment
$90,000
Improvements Assessment
$113,500
Total Assessment
$203,500
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Starbucks and Nook Daycare & Preschool | 2101-2111 W Armitage Ave
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