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    1635 Damen Ave Chicago, IL 60647

    For Sale
    Contact for pricing

    Prime Bucktown location, strong NOI, long-term lease.

    Property size:
    5,824 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional investment opportunity presents a fee-simple ownership interest in a thriving bartaco restaurant located in Chicago's highly desirable Bucktown/Wicker Park neighborhood. The property, situated at 1635 N Damen Ave, boasts a substantial 5,824 square feet across two stories within a single, remodeled building (2023). Currently operating at 100% occupancy, the restaurant benefits from a robust 10-year net lease (commencing May 1, 2023, and expiring April 30, 2033), providing a remaining lease term of approximately 8.4 years. Landlord responsibilities are limited to roof and structure maintenance. The lease includes annual rent bumps of 2%, offering inflation protection. Four additional 5-year lease options further enhance the long-term investment potential. The property's strong financial performance is reflected in a current Net Operating Income (NOI) of $358,750. This rare, urban infill opportunity is situated on a coveted six-corner location, capitalizing on exceptional demographics within one of Chicago's most sought-after retail corridors. The property represents a secure, high-yield investment with significant upside potential. This is a truly unique chance to acquire a fee simple interest in a well-established restaurant in a prime Chicago location.

    Property Features for 1635 Damen Ave

    General Information

    Property type
    Restaurants
    Square Feet
    5,824 SF

    Building Details

    Year Renovated
    2023
    Buildings
    1
    Stories
    2

    HighLights

    • Rare Chicago six‑corner infill acquisition opportunity.
    • Net lease with nine years remaining and annual rent increases.
    • Growing restaurant tenant backed by LCatterton.
    • Excellent demographics in a prime urban infill location.
    • Highly desirable Bucktown/Wicker Park retail corridor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    bartaco Taco Restaurant

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6772531
    Latitude
    41.9115342

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    FAQs

    What type of property is this?
    Restaurant - Prime Bucktown location, strong NOI, long-term lease.
    Where is this restaurant located?
    The property is located at 1635 Damen Ave Chicago, IL.
    What are key features of this property?
    This property features: Rare Chicago six-corner infill acquisition opportunity.; Net lease with nine years remaining and annual rent increases.; Growing restaurant tenant backed by LCatterton.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1635 Damen Ave Chicago, IL 60647
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