Greenstone Partners, as the Exclusive Investment Advisor, presents the opportunity to acquire the 100% fee-simple interest in 1733-35 N. Damen (the “Property”), a two-tenant national retail investment located in Chicago’s Bucktown / Wicker Park neighborhood. The Property is leased to Chipotle and Playa Bowls, both operating under ‘Net’ leases with 100% of operating expenses being reimbursed to the landlord.

Chipotle (NYSE: CMG) is America’s largest fast casual brand, has operated at the Property since 2003, and exercised their last remaining 5-year renewal option, which commenced in June 2024. The tenant has been in expansion mode, having opened 271 new restaurants in 2023 and the goal of opening ~300 more in 2024. Revenue grew by 14.3% in 2023.

Playa Bowls recently signed a 10-year lease which features 2.5% annual rent escalations. Playa Bowls is the nation’s leasing superfruit bowl shop specializing in acai, pitaya, mango, green, and coconut bowls, juices, smoothies, and cold brew. After opening a small stand outside of a New Jersey pizza shop in 2014, Playa Bowls rapidly expanded to more than 200 locations across 22 states. The tenant planned on opening 75 new shops and securing franchise commitments for 150 additional locations in 2024.

The Property is located on N. Damen Avenue, featuring ±48 feet of frontage. Positioned just 0.2 miles from the six-corner intersection of Damen, Milwaukee, and North Avenues (±45,000 VPD), the Property benefits from a highly desirable retail corridor featuring the likes of Starbucks Reserve, CAVA, Supreme, Sweetgreen, Levi’s, ADIDAS Originals, YETI, Lids, Urban Outfitters, Carhartt, Jeni’s Ice Cream, Tropical Smoothie Café, and many others. Wicker Park has flourished into a coveted residential market as well as a prominent “high-street” shopping district with thousands of daily retail customers.

Within 1-mile, demographics include an average household income of $154,002, an average home value of $625,658, and a total population of 57,052.