Essex Realty Group, Inc. has been exclusively engaged to market for sale, 859 North Damen Avenue, a mixed-use property located in Chicago’s popular Ukrainian Village neighborhood. The building was substantially renovated in 2015 and includes mostly large 2 bed/1 bath apartments plus 2 larger duplex units. The apartments all feature designer finishes including hardwood floors, exposed brick walls, stainless steel appliances, quartz countertops, tiled bathrooms, individual HVAC, laundry in-unit and rear porches. The retail space is currently leased to Black Dog Gelato through 2028, whose original move-in date was 2010. The renovation included new plumbing, electric and HVAC to all apartments.
ASSUMABLE DEBT AVAILABLE AT 4.55% MATURING 6/1/2027
Freddie Mac loan serviced by Greystone
Contact your Essex Broker for more information
The property is situated on the east side of Damen Avenue just south of Iowa Street and is conveniently located just one block north of the neighborhood’s popular Chicago Avenue and three blocks south of Division Street, making it ideally located. The Damen & Division L Stations are both less than one mile away, providing tenants quick access to the Blue Line. Along with several surrounding bus stops & Divvy Stations, tenants are offered excellent transportation options. 859 North Damen is a rare opportunity to own a renovated property in a prime Ukrainian Village location, walking distance to the Wicker Park & West Loop neighborhoods.
The Ukrainian Village neighborhood of Chicago is located a few miles west of Chicago’s Loop and offers views of the city’s skyline from most parts of the neighborhood. Ukrainian Village is included as a part of West Town and benefits by being comprised of several neighborhoods whose residents have brought a rich Eastern European history. Neighborhoods within West Town include: East Village, Eckhart Park, portions of Humboldt Park, Noble Square, portions of River West, Smith Park, Ukrainian Village, and Wicker Park.
Today, Ukrainian Village is rapidly gentrifying and becoming one of Chicago’s most desirable neighborhoods, offering an array of colorful galleries and museums, taprooms, quaint coffee shops, and a booming restaurant and nightlife scene. 859 North Damen is located in the heart of the neighborhood, just one block north of popular Chicago Avenue and three blocks south of popular Division Street, as well as in close proximity to several public transportation options, and walking distance to the West Loop & Wicker Park neighborhoods.
*Neighborhood information from https://www.westtownchicago.com/
- Assumable Debt Available @ 4.55% Maturing 6/1/2027
- Property Substantially Renovated in 2015
- New Electric Service, Wiring & Panels, New Copper Supply Lines, Individual HVAC & Two New Duplex Down Apartments
- All Apartments Remodeled in 2015 with New Kitchens, Bathrooms and Laundry In-Unit
- Rents Substantially Below Comparable Units; Averaging $2.24 PSF
- Retail Tenant in Place Since 2010; Signed Through May 2028