Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Attributes

Year Built 1888
Building Area
Land Area ()

Property Description

Jones Lang Lasalle (“JLL”) has been exclusively retained to offer the opportunity to acquire 1000 & 1006 W. Armitage (the “Property” or the “Offering”), a two building, 32,328 square foot collection of adjacent properties at the corner of Armitage and Sheffield – the heart of city’s desirable Lincoln Park neighborhood.

 

The Offering provides a diversified income stream supported by

15, 2-bedroom residential units and 5 retail suites in one of the city’s

tightest and most desirable retail corridors. The retail features a brand-new

ten-year lease with nationally acclaimed restaurant group Hogsalt Hospitality

at a below-market rent with attractive near-term contractual escalations.

 

Highly accessible to consumers near the intersection of Armitage

and Sheffield, the Property benefits from its desirable location surrounded by

the dense and affluent residential population of Lincoln Park. Additionally,

proximity to DePaul University, Lincoln Park High School, and the CTA Red &

Brown lines (the “L”) create additional demand in the immediate submarket.

 

1000 & 1006 W Armitage offers investors rare scale and income

diversification in the heart of Chicago’s most renowned and mature

neighborhood, Lincoln Park.

Investment Highlights

  • Unique Opportunity to Acquire Two Adjacent Properties on Armitage Avenue
  • Hard Corner Location at Armitage & Sheffield – Unmatched Visibility & Street Presence
  • Attractive Income Diversification Between Retail & Residential Components
  • The City’s Most Coveted Neighborhood– Preferred Location for Digitally Native and Progressive Retailers
  • Nearly 1 million Residents within a five-mile radius
  • Average Household Incomes Exceeding $165,000
  • High Barrier to Entry Market - Only 2% Vacancy on Armitage Avenue
  • Brand New 10-year Lease - with Armitage Ale House, a Hogsalt Hospitality concept
Last Updated Date: 28 Jul 2021
Clinton Mitchell
Clinton Mitchell
Managing Director, Capital Markets
License details
IL-475.160470 NE-20150925
Amy Sands
Amy Sands
Managing Director, Capital Markets
License details
IL-475.138622

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Last Updated Date: 28 Jul 2021

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