Nicholas Stocking And Drew Dillon Of Stocking Urban Acquire Mixed-Use Property In Chicago For $16.3M

This transaction involves a mixed-use property located at 1500-1520 North Damen Avenue in Chicago. The asset sold for $16,300,000 and consists of 41,709 square feet. There are a total of 18 units within the property, reaching a price per unit of $905,555 and a price per square foot of $390.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $16,300,000
• Units: 18
• Price per Unit: $905,555
• Square Footage: 41,709
• Price per Square Foot: $390
• Buyer: Nicholas Stocking & Drew Dillon - Stocking Urban; Alix Kogan - Ashland Ventures
• Seller: Newcastle Investors

The deal represents a joint venture between Stocking Urban and Ashland Capital, facilitated through an off-market transaction. The property is strategically located one block south of the Damen CTA Blue Line station and spans an entire acre, including a four-story building with large-format apartments, a retail center of 18,000 square feet, and a 41-space parking lot.