5233-5239 Damen Ave Chicago, IL 60625

Property Details for 5233-5239 Damen Ave

Year built

1932

Lot size

0.08 lot acres

Property size

6,148 SF

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This exceptional mixed-use investment property, located at 5233-5239 N Damen Avenue in Chicago, Illinois, presents a compelling value-add opportunity. The two-story building, constructed in 1932, encompasses 6,148 square feet on a 0.08-acre lot and features six units: three commercial storefronts and three residential units (two 2-bedroom/1-bathroom and one non-conforming studio). The net rentable area totals 5,800 square feet. The property is zoned B1-2, allowing for a variety of retail uses at street level. The commercial spaces previously housed a restaurant, offering potential for similar ventures or diverse redevelopment. Situated in a densely populated residential neighborhood, the property enjoys excellent visibility and accessibility. It's conveniently located one block from Foster Avenue (US Highway 41), less than two miles from Foster Beach, and one mile from Lincoln Square's vibrant commercial corridor. Public transportation is readily available via nearby CTA Brown and Red lines, and the Ravenswood Metra station. The property benefits from separate HVAC systems and individually metered gas and electricity for each unit (tenant responsibility), while the landlord covers hot water, water, and sewer. The strong demographics of the area, with over 56,600 people within a one-mile radius and an average household income exceeding $122,024, further enhance its investment potential. National retailers such as Mariano's, Jewel-Osco, and numerous fast-food chains are located nearby, driving significant traffic to the area. This property offers a blend of strong location, existing income, and significant upside potential for a savvy investor. Asking price is $1,150,000.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.6795

Latitude

41.977