Retail Storefront
For Sale
Contact for pricing
1616 N Damen Ave, Chicago, IL 60647
Single storefront property on a prominent retail corridor with exceptional public transit access.
Property Size15,688 SF
Price / SF$323.50
Days on Market230
Property Features for 1616 N Damen Ave
General Information
Standard status
Active
Size
15,688 SF
Property subtype
RETAIL
Listing Agency:
Greenstone Partners - Corporate
(312) 234-0360
Listed By:
Danny Spitz · License #471018795
(312) 234-0360
Source:
Moodyscre
Added: Dec 12, 2025
Changed: Jul 26
Last Checked: Jul 30 at 9:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Greenstone Partners - Corporate
Investment Insights
Based on property information with market context.
This for-sale retail storefront property offers a credit-rated tenancy with a commitment to the asset. It is positioned on a prominent retail corridor serving destination restaurants and tourism.
The area highlights include proximity to the 606 trail and “Hipster Highway,” along with exceptional access to public transit. Public remarks also reference Robey hotel in the surrounding tenant and visitor ecosystem.
The property is identified as 1616 N Damen Ave in Chicago, IL 60647.
The area highlights include proximity to the 606 trail and “Hipster Highway,” along with exceptional access to public transit. Public remarks also reference Robey hotel in the surrounding tenant and visitor ecosystem.
The property is identified as 1616 N Damen Ave in Chicago, IL 60647.
Key Highlights
- Single storefront property on a prominent retail corridor
- Exceptional access to public transit
- Location near the 606 trail and “Hipster Highway”
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $338.9k | $21.60 |
| − Vacancy | −$28.8k | −$1.84 |
| EGI | $310.1k | $19.76 |
| − OpEx | −$93.0k | −$5.93 |
| NOI | $217.0k | $13.83 |
15,688 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.10M
$2.71M – $3.62M
NOI $217,040 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.40M
$6.47M – $8.63M
NOI $517,779 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,705
Businesses Nearby
297k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Dining 27%
Apparel 11%
Groceries 11%
Barnes & Noble
Shops & Services
48,824 visits/mo
0.1 miles
Aldi
Groceries
32,222 visits/mo
0.2 miles
Shell
Shops & Services
23,379 visits/mo
0.5 miles
Circle K
Shops & Services
17,408 visits/mo
0.5 miles
Jeni's Splendid Ice Creams
Dining
11,621 visits/mo
0.3 miles
Demographics for 60647, IL
85,631
Population
41,975
Households
2
Avg Household Size
33
Median Age
61%
College-Educated
92%
High-School Grad
4.0 sq mi
ZIP Area
21,408
Density / Sq Mi
$102,851
Median Household Income
$65,776
Median Earnings
$1,714
Median Rent
$557,300
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Single storefront property on a prominent retail corridor with exceptional public transit access.
Where is this retail space located?
The property is located at 1616 N Damen Ave Chicago, IL.
What is the asking price?
The asking price for this property is $5,075,000.
What are key features of this property?
This property features: Single storefront property on a prominent retail corridor; Exceptional access to public transit; Location near the 606 trail and “Hipster Highway”
