Greenstone Partners, as the Exclusive Investment Advisor, is pleased to present the opportunity to acquire the 100% fee-simple interest in 1640 N. Damen Avenue (the “Property”), an urban infill mixed-use investment opportunity prominently located in Chicago’s vibrant Wicker Park neighborhood.

The ±9,222 square foot, three-story, mixed-use building consists of one ground floor medical/retail suite and six apartment units on the upper floors, positioned on the northwest corner of N. Damen Avenue and W. Concord Place, just one block north of Wicker Park’s iconic six-corner intersection. The property benefits from its 50 feet of frontage along N. Damen Avenue and 80 feet of frontage along W. Concord Place.

The ground floor medical space is occupied by One Medical, a wholly owned subsidiary of Amazon, specializing in primary care. Amazon acquired One Medical in February 2023 for approximately $3.9 billion. One Medical commenced their 10-year lease in September 2020, reimbursing 75% of the real estate taxes and pays a fixed portion of operating expenses that increases 3% annually. The lease features favorable 2.75% annual rental increases with two (2), five (5) year renewal options.

The six apartment units on the upper floors include three (3), 2-bedroom / 1-bathroom units and three (3), 1-bedroom / 1-bathroom units. All apartment units are updated with hardwood floors, granite countertops, energy efficient appliances, in-unit washer dryer, spacious floorplans with exposed brick, central heating and cooling, controlled video access entrance, and four units include rear balconies.

Wicker Park has flourished into a highly desirable residential market as well as a prominent “high-street” retail shopping district with thousands of daily retail customers. The Property benefits from well-known neighbors including Barns & Noble, CAVA, Supreme, Lululemon, Levi’s, ADIDAS Originals, YETI, Urban Outfitters, Thursday Boots, Burton, Warby Parker, Bluemercury, Lids, Barry’s Bootcamp, Carhartt, Sweetgreen, Jeni’s Ice Cream, Buffalo Exchange, BODYBAR, and many others.