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INFILL MIXED-USE | RECENT 10-YEAR RETAIL LEASES

$10,307,000 | 5.91%

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1950 West Division Street
Chicago, Illinois 60622

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Features

  • Recent 10-Year Leases on All Four Retail Tenants with Rental Increases
    • Leases Expiring Between 2028 and 2031
    • Belmont Bank Offers a 10 Percent Rental Increase Every Five Years
    • Little Wok, Cheba Hut Toasted Subs and Colectivo Coffee Offer Annual Rental Increases
  • Two High-End, Three-Bedroom and Three-Bathroom Units, Each with Two Garage Spaces
    • Below Market Rents: Apartment Tenants Paying Only $1.84 per Square Foot for High End Condo Quality Construction
  • Dense Affluent Area | Average Household Income of $151,184 Within a Half Mile and a Population of 19,536
    • The Subject Property is Situated Amongst Chicago’s Most Established and Diverse West Side Neighborhoods Including Wicker Park, Bucktown and Ukrainian Village
    • Signalized, Hard Corner Location with Multiple Transportation Options
      Heavy Traffic Counts with 29,850 Vehicles Passing per Day on Damen Avenue and Division Street
      Directly on the Corner of Two CTA Bus Stops and Multiple DIVVY Bike Rental Stations in the Area
      Half Mile to the Division Blue Line CTA Train Station | 1,735,843 Annual Entries
      Interstate 90/94 Interchange a Mile to the East | Over 230,000 Vehicles per Day
      Centrally Located Within West Division Avenue’s Food and Bar Scene
  • A Quarter Mile from AMITA Health Saints Mary and Elizabeth Medical Center Chicago
    • 495-Bed Medical Center
    • Ranked in the Top Seven Percent of All United States Hospitals for Nursing Excellence
    • Achieved Magnet® Recognition for Nursing Excellence from the American Nurses Credentialing Center (ANCC)
    • Extremely High Daytime and Nighttime Foot Traffic | 98 Walk Score, a “Walker’s Paradise” (WalkScore.com)
  • A Half Mile From the Ashland Avenue, Milwaukee Avenue, and Division Street Intersection | Ample Retail and Residential Complexes
    • The Intersection Begins the Milwaukee Avenue Retail District | Lined for Miles with National and Boutique Brands
    • 366 Apartments, 12 Townhomes, and 76 Condominiums Built Between 2009-2020
    • Proposed 2022 Build with 121 Units
  • 1.4 Miles from New Area Developments Due to Zoning Changes and the City’s River Revitalization Plans
    • North Branch Canal’s “Wild Mile,” the First Ever Mile-Long Floating Eco-Park in the World
    • Omni Group Plans to Transform Eight Acres Into 2,650 Apartments, a 247 Room Hotel and Over 100,000 of Office Space Across Five Towers
    • Hogsalt Restaurant Group Headquarters – Proposed 30,000 Square-Foot Space
    • Plans include Offices, a Test Kitchen, Training Center, Community Garden, and Outdoor Food and Beverage Space Open to the Public

Contact

AUSTIN WEISENBECK
Senior Vice President Investments
Tel: (630) 570-2169
Austin.Weisenbeck@marcusmillichap.com
* Broker of Record: Steven Weinstock

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