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    1560 Damen Ave Chicago, IL 60622

    For Sale
    $3,222,000

    Chicago Retail Investment Opportunity

    Property size:
    4,353 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional fee-simple retail investment presents a rare opportunity to acquire the flagship Stan's Donuts location in Chicago's vibrant Wicker Park-Bucktown neighborhood. Situated at the highly trafficked "Six Corners" intersection of Damen, North, and Milwaukee Avenues, this 4,353 square foot freestanding building sits on a 0.31-acre lot and boasts a 100% occupancy rate. The ground floor houses the renowned Stan's Donuts, operating under a triple-net (NN) lease with a remaining term of nine years and a remarkable 2.0% annual rent increase, providing a strong hedge against inflation. The upper two floors comprise two three-bedroom, two-bathroom apartment units, also currently leased. The property benefits from its proximity to the CTA Blue Line Damen station, ensuring high visibility and accessibility to millions of potential customers annually. With a 7.10% cap rate and an asking price of $3,222,000 ($740.18/sq ft), this investment offers significant potential for long-term growth and passive income. This is a truly unique opportunity to acquire a generational asset in one of Chicago's most desirable locations. The property's prime location and strong tenant ensure a stable and appreciating investment.

    Property Features for 1560 Damen Ave

    General Information

    Property type
    Restaurants
    Square Feet
    4,353 SF
    Lot Size
    13,504 SF

    HighLights

    • Flagship Stan's Donuts location at Chicago's Six Corners intersection in the Wicker Park‑Bucktown neighborhood.
    • 4,353 SF freestanding building on a 0.31‑acre lot with 100% occupancy.
    • Triple‑net (NN) leased to Stan's Donuts for nine years with a 2.0% annual rent increase.
    • Includes two 3‑bedroom, 2‑bathroom apartments, also currently leased.
    • Prime location adjacent to the CTA Blue Line Damen station, offering high visibility and accessibility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Stan's Donuts & Coffee Coffee Shop

    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
    -87.6776313
    Latitude
    41.910017

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    FAQs

    What type of property is this?
    Restaurant - Chicago Retail Investment Opportunity
    Where is this restaurant located?
    The property is located at 1560 Damen Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $3,222,000.
    What are key features of this property?
    This property features: Flagship Stan's Donuts location at Chicago's Six Corners intersection in the Wicker Park-Bucktown neighborhood.; 4,353 SF freestanding building on a 0.31-acre lot with 100% occupancy.; Triple-net (NN) leased to Stan's Donuts for nine years with a 2.0% annual rent increase.
    Request Owner's contact information
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    Chicago, IL 60622
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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
    1560 Damen Ave Chicago, IL 60622
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