Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Mixed-Use Properties Listed Along Armitage Avenue
A venture of California-based Blatteis & Schnur is putting two mixed-use properties along Armitage Avenue up for sale, Crain’s Chicago Business reported. The seller is asking $14.2 million for 1000 and 1006 W. Armitage Ave., which encompass 15 two-bedroom apartments and ground-floor retail spaces.
JLL’s Amy Sands and Clinton Mitchell are marketing the properties, according to Crain’s. The Blatteis & Schnure venture paid a total of $11.68 million in 2006.
Although the pandemic has walloped other neighborhood shopping strips such as Damen Avenue, it didn’t land a punch on Armitage, Crain’s reported. Data from Stone Real Estate show that the vacancy rate on Armitage between Sheffield Avenue and Halsted Street decreased to 7.2% in 2020 from 8/8%t in 2019.
Armitage is home to a growing group of e-commerce retailers and restaurants. Brands like Rothy’s, Allbirds and Outdoor Voices have opened stores along the street.
- ◦Sale/Acquisition
