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Greenstone Partners Broker Sale Of Retail Property Fully Leased To Chipotle And Playa Bowls For $3.3M
SOLD
$3,300,000
Illinois
See Similar DealsRetail4,747 SF
Sold 03/07/2025
SOLD
Greenstone Partners Broker Sale Of Retail Property Fully Leased To Chipotle And Playa Bowls For $3.3M
1735 North Damen Avenue
See Similar DealsRetail4,747 SF
Sold 03/07/2025
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$695
Total Square Footage:4,747 SF
Transaction Type:Sale
A retail property located at 1735 North Damen Avenue in Chicago was sold for $3,300,000. The property encompasses 4,747 square feet, translating to a price per square foot of $695. It is situated in the Chicago market and is fully leased to Chipotle and Playa Bowls.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,300,000
- Square Footage: 4,747
- Price Per Square Foot: $695
- Lease Details: Chipotle renewed its lease through at least 2029; Playa Bowls signed a 10-year lease
The sale was brokered by Brewster Hague and Danny Spitz, both representing Greenstone Partners. Details about the buyer remain undisclosed.
Players
TENANT
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$175,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,724.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,643.68
Annual Debt Service$187,724.20
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