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1635 Damen Ave Chicago, IL 60647

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

Property size:
5,824 SF

Property Features for 1635 Damen Ave

General Information

Property type
Retail properties & Spaces
Square Feet
5,824 SF

Building Details

Year Renovated
2023
Buildings
1
Stories
2

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Listing Contact
Isaiah Harf
Isaiah Harf

Listing Agency: Northmarq | Chicago (East Wacker Dr) Listing Agent: Isaiah Harf

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

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 Profile Insight Report Location Intelligence

Current Use by Public Records

bartaco Restaurant

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Pharmacy

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

FAQs

What type of property is this?
Retail property - Prime Bucktown location, strong NOI, long-term lease.
Where is this retail property 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.
(312) 777-2437 Call to check price and availability
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