facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Illinois

/

Mixed Use

/

Sale

/

1542 North Damen Avenue

Nick Stocking And Drew Dillon Acquire Mixed-Use Property In Chicago For $15.5 Million
SOLDMixed-use

Nick Stocking And Drew Dillon Acquire Mixed-Use Property In Chicago For $15.5 Million

1542 North Damen Avenue

$15,500,000

$348/SF

Building Size

44,423 SF

Asset Type

Mixed-use

Closing

Oct 2, 2025

AI

A mixed-use property located at 1542 North Damen Avenue in Chicago has been sold for $15,500,000. The asset encompasses 22 residential units and 5 retail spaces, totaling 44,423 square feet. The price per unit stands at $704,545, while the price per square foot is $348.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $15,500,000
  • Address: 1542 North Damen Avenue
  • Market: Chicago
  • Units: 22
  • Retail Spaces: 5
  • Square Footage: 44,423
  • Price per Unit: $704,545
  • Price per Square Foot: $348
  • Buyer: Nick Stocking & Drew Dillon
  • Seller: Newcastle Investors
  • Seller's Representative: Kyle Stengle - Marcus & Millichap

A joint venture between Stocking Urban and Ashland Capital was responsible for the acquisition. The property, home to notable tenants such as La Colombe and Urban Belly, was purchased with financing from Wintrust Bank. The partnership plans to implement a value-add business strategy, which includes cosmetic unit renovations and retail repositioning to leverage the neighborhood's strong market dynamics and rental demand.

Players

Kyle Stengle

Marcus & Millichap

Broker

$198.4M

vol

44 deals

Broker
Marcus & Millichap
Marcus & MillichapBrokerage
Drew Dillon

Drew Dillon

Ashland Capital

Buyer

$168.9M

vol

13 deals

Buyer
Newcastle Investors
Newcastle InvestorsSeller
Wintrust Bank
Wintrust BankLender

Chicago Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.02%

Cash-on-Cash

-0.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93