Retail

908 W Armitage Avenue

908 W Armitage Ave, Chicago, IL, 60614-4204, US

908 W Armitage Avenue_Property for Sale

Gallery

908 W Armitage Avenue 2_Property for Sale

Asset description

Jones Lang LaSalle (“JLL”) has been exclusively retained to offer the opportunity to acquire 908 W. Armitage (the “Property” or the “Offering”), a three-story, 6,780 square foot building at the corner of Armitage and Fremont – the heart of the city’s desirable Lincoln Park neighborhood. The Offering provides a diversified income stream supported by a 3-bedroom residential unit and 2 retail suites in one of the city’s tightest and most desirable retail corridors. The retail features a brand-new five-year lease renewal with long-term tenant, The Village Cobbler. Highly accessible to consumers near the intersection of Armitage and Fremont, 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. 908 W. Armitage offers investors rare scale and income diversification in the heart of Chicago’s most renowned and mature neighborhood, Lincoln Park.

Attributes

Building area Net
7,500 sf
Occupancy
1.00%
Year built
1915
Land area Net
0.07 acres (3,001 sf)

Investment highlights

  • Unique Opportunity to Acquire a Mixed Use Property on Armitage Avenue
  • Unmatched Visibility & Street Presence near the corner of Armitage & Fremont
  • Attractive Income Diversification Between Retail & Residential Components
  • The City's Most Coveted Neighborhood- Preferred Location for Digitally Native & 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 5-year lease renewal with The Village Cobbler, a long-term tenant within the building
  • Walk Score of 95- "walker's paradise"

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Last updated
Aug 23, 2022