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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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