Urban Outfitters–Leased Retail Condo in Wicker Park Changes Hands
Greenstone Partners has completed the sale of 1521 N. Milwaukee Ave., a 10,600-square-foot, two-level retail condominium in Chicago’s Wicker Park neighborhood that is 100% leased to Urban Outfitters. The property sold for $4.125 million.
Managing Partner Danny Spitz and Partner Brewster Hague represented the seller, Newcastle Investors, a longtime owner of retail properties in the neighborhood. Spitz also brokered Newcastle’s acquisition of the property in 2013. Urban Outfitters has occupied the property since 2005, making it one of the first national retailers to plant a flag in Wicker Park.
The ground and second-floor space includes an additional 2,676-square-foot lower level and about 50 feet of frontage on Milwaukee Avenue. Nearby retailers include Barnes & Noble, Adidas Originals, Levi’s, Abercrombie & Fitch, Wells Fargo, Carhartt, CAVA, sweetgreen and Supreme.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout