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Dual NNN Storefronts | 2028 Cash-Flow 2 Condos Online Auction Sale Chicago, IL
Matterport 3D Tours
Investment Highlights
- Dual retail ground-floor condo opportunity at 1915-1917 N Damen Avenue presents an exceptional investment with NNN leases through EOY 2028.
- Triple NNN leases enable the tenants to cover taxes, insurance, and maintenance, maximizing a passive investor’s return for the next two years.
- On-site operations are a local holistic med spa ($77K+ in annual rental income) and an esthetician studio ($51K+ in annual rental income).
- Prime visibility with foot and vehicle traffic along the busy Damen Avenue, with lots of pedestrians and more than 17,000 cars passing by daily.
- Strong demographics in an area with an excellent growing customer base and more than $3.9 billion generated annually in consumer spending.
- Retail synergy in the immediate area stems from Starbucks, Chipotle, LUSH, L.A. Tan, Lululemon, Jimmy John’s, and Crumbl Cookies.
Executive Summary
Welcome to the hands-off investment opportunity to acquire a two-tenant ground-floor retail condo offering comprised of NNN leases through 2028, a reliable income-generating acquisition.
1915-1917 N Damen Avenue is a five-story, 18,000-square-foot mixed-use building with ground-floor and mid-level retail condos and upper-floor residential condo units. The subject offering comprises 3,160 square feet in total across the prominent two ground-floor retail storefront condos, fully occupied by local operators.
Nestled in Chicago’s Bucktown suburb, an approximate 15-minute drive to Downtown via Interstate 90, 1915-1917 N Damen Avenue is easily accessible at an intersection location. With direct frontage along N Damen Avenue and the CTA Blue Line, the storefronts benefit from incredible visibility. A built-in customer base is also included with the above residential condos.
Bucktown is known for its upscale boutiques and restaurants, many of them on Milwaukee Avenue and Damen Avenue, contributing to the subject’s profound retail synergy. Between the Interstate and the Chicago River is full of shopping centers and big-box stores, as well as several grocery stores.
The Northwest City Submarket reflects Chicago's pattern of well-defined neighborhood retail districts. The area is characterized by a broad mix of ethnic restaurants and a combination of locally owned retailers and national chains serving daily consumer needs. Retail activity in the submarket is further supported by a sizable student and employee population associated with nearby higher education institutions, such as Loyola University, Chamberlain University College of Nursing, Northeastern Illinois University, and North Park University.
Property tours are by appointment only. Please contact the listing broker to schedule.
1915-1917 N Damen Avenue is a five-story, 18,000-square-foot mixed-use building with ground-floor and mid-level retail condos and upper-floor residential condo units. The subject offering comprises 3,160 square feet in total across the prominent two ground-floor retail storefront condos, fully occupied by local operators.
Nestled in Chicago’s Bucktown suburb, an approximate 15-minute drive to Downtown via Interstate 90, 1915-1917 N Damen Avenue is easily accessible at an intersection location. With direct frontage along N Damen Avenue and the CTA Blue Line, the storefronts benefit from incredible visibility. A built-in customer base is also included with the above residential condos.
Bucktown is known for its upscale boutiques and restaurants, many of them on Milwaukee Avenue and Damen Avenue, contributing to the subject’s profound retail synergy. Between the Interstate and the Chicago River is full of shopping centers and big-box stores, as well as several grocery stores.
The Northwest City Submarket reflects Chicago's pattern of well-defined neighborhood retail districts. The area is characterized by a broad mix of ethnic restaurants and a combination of locally owned retailers and national chains serving daily consumer needs. Retail activity in the submarket is further supported by a sizable student and employee population associated with nearby higher education institutions, such as Loyola University, Chamberlain University College of Nursing, Northeastern Illinois University, and North Park University.
Property tours are by appointment only. Please contact the listing broker to schedule.
Matterport 3D Tours
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Matterport 3D Tours
Photos
Street View
Street
Map
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
Market Analytics Click Here to Access
Property Facts
| Sale Condition | Auction Sale | Status | Active |
| Type of Ownership | Fee Simple | Number of Properties | 2 |
| Sale Type | Investment | Total Building Size | 3,160 SF |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Total Building Size | 3,160 SF |
Properties
| Property Name / Address | Property Type | Size | Year Built |
|---|---|---|---|
| 1915-1917 N Damen Ave, 1st Floor - Unit 1, Chicago, IL 60647 | Office/Medical Condo | 1,580 SF | 2007 |
| 1915-1917 N Damen Ave, 1st Floor - Unit 2, Chicago, IL 60647 | Retail Condo | 1,580 SF | 2007 |
Sale Advisor
Sale Advisor
Ruben Vallejo, Associate
Ruben offers long-term commercial real estate experience in the Chicago market.
About Northwest City
Chicago is known for its neighborhood enclaves, and no other area captures this like the Northwest City. Locals savor the myriad of ethnic cuisines here, along with a plentiful sampling of ma and pa stores and national retailers for household goods. The Northwest City is bounded by Lake Michigan to the east, O’Hare International Airport to the west, and the Eisenhower Expressway to the south. The Kennedy and Edens Expressways cross diagonally through the area’s core. In addition to air and car travel, residents and guests can easily get to Chicago’s downtown in minutes via the Brown, Red, and Blue “El” Lines and numerous Metra commuter lines, too.
Although a deeply residential area, the Northwest City draws a sizable population of staff and students from its numerous colleges and universities. Schools include Loyola University in Rogers Park, Northeastern Illinois University and North Park University in North Park, and DeVry University in Ravenswood.
With low vacancy compared to rest of the metropolitan area, landlords are raising rents commensurate with demand.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
Read More
Auction Contact
Casey Harrell
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 478027045
1 of 28
Videos
Matterport 3D Exterior
Matterport 3D Tours
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
Contact the Sale Advisor
Dual NNN Storefronts | 2028 Cash-Flow
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Dual NNN Storefronts | 2028 Cash-Flow
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