Property Overview

Interra Realty has been exclusively engaged to market 1439 N. Milwaukee Avenue, Chicago, for sale. The subject investment property is a rarely available mixed-use asset in a prime location in the Wicker Park Neighborhood. The property is comprised of five apartments over approximately 2,000 SF of street-level retail.

The street-level retail is leased to a Taco Bell franchisee that operates it's Cantina brand, which features an urban design and serves alcohol. The franchisee is a 200+ unit operator of various restaurant concepts. Taco Bell is in their sixth year of a ten year lease and has two, five year options. They're responsible for 50% of the water and real estate taxes. The tenant spent approximately $550,000 of their own money on the buildout .

Highlights

  • Prime Location in Wicker Park Steps from Damen/Milwaukee/North Intersection
  • Retail Leased to Taco Bell Franchisee, Operating Cantina Concept
  • Attractive Apartment Unit Mix with Modernized Finishes and Individual Utilities
  • Offered for Sale Free & Clear of Existing Financing

Key Details

SALE PRICE
$2,695,000
BUILDING SIZE
6,896 SF
CAP RATE
5.5%
YEAR BUILT
1878