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33795683
33795682

1123-1131 W Armitage Ave, Chicago, IL 60614 For Sale

PC
IL IL 475208625
Mid-America Real Estate
GG
IL 475135588, IL 475.135588
Mid-America Real Estate
JG
IL 471014197
Mid-America Real Estate
Listed by Mid-America Real Estate
$10,500,000
306 days on market
Updated 27 days ago

The Armitage Collection

Details
Property Type Retail
Sub Type Storefront
Square Footage 22,604
Units 4
Cap Rate 7.00%
NOI $737,872
Occupancy 100%
Buildings 4
Stories 2
Ground Lease No

Retail | 7.00% CAP | 22,604 SqFt

Marketing description

Mid-America Real Estate Corporation has been retained on behalf of the owner to sell the 100% fee simple interest in The Armitage Collection, a collection of urban high street retail buildings leased by daycare, healthcare, and personal services tenants. This dynamic asset is located along Lincoln Park’s affluent and heavily trafficked Armitage Avenue and provides an investor with the opportunity to acquire an asse with a diversified rent roll and long-term leases.

Location Description

The Armitage Collection is located on Armitage Avenue at the center of Chicago’s affluent Lincoln Park neighborhood. With a highly sought-after customer base, the retail corridor along Armitage is considered one of Chicago’s most desirable and productive given its diverse mix of luxury retailers, digitally native brands, high-end lifestyle shops, and health and personal services retailers. Major tenants in the vicinity of the subject offering include Abercrombie & Fitch, Todd Snyder, Buck Mason, Allbirds, Rothy’s, Rails, Faherty, MOSCOT, Marine Layer, Bonobos, and others. Lincoln Park is home to a dynamic array of local tenants and boutiques, national brands, top-ranked restaurants, and some of Chicago’s highest priced single-family homes and apartments.

Investment highlights

  • 1123 W Armitage (1st Floor) 1,400 SF - Bowie Barker
  • 1123 W Armitage (1st & 2nd Floor) 3,600 SF - Studio Lagree
  • 1127 W Armitage 6,542 SF - The Goddard School (new 10-year renewal)
  • 1958 N Seminary Court 5,062 SF - The Goddard School (new 10-year renewal)
  • 1131 W Armitage (1st & 2nd Floor) 6,000 SF - Armitage Allergy & Asthma Associates
  • Total Square Feet: 22,604

Listing Contacts

PC
IL IL 475208625
Mid-America Real Estate
GG
IL 475135588, IL 475.135588
Mid-America Real Estate
JG
IL 471014197
Mid-America Real Estate
Listed by Mid-America Real Estate

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$737,872.00
$61,489.33/mo

Valuation Metrics

0
DSCR
7.03%
Cap Rate
7.03%
ROI

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Additional Information

Name
Patrick Corrigan
License
IL 475208625
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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