1560 Damen Ave Chicago, IL 60622
- Residential income homes
- 5,439 SF
- 0.04 lot acres
Current Use by Public Records
- Stan's Donuts & Coffee / Coffee Shop / Bagel Shop
Property Details for 1560 Damen Ave
- Year built
- 1891
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.04 lot acres
- Property size
- 5,439 SF
- Property type
- Residential income homes
- Property subtype
- Small apartment buildings
- APN
- 17-06-105-027
- APU
- 1706105027
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6777
- Latitude
- 41.91
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
