Greenstone Partners successfully sold 1514, 1519, and 1525–29 North Milwaukee Avenue (the “Portfolio”), an urban infill retail portfolio prominently located in Chicago’s vibrant Wicker Park neighborhood.
The Portfolio totals ±9,470 square feet of retail space, including one corner retail property at North Milwaukee Avenue and Honore, in addition to the three retail spaces located directly across the street. The properties are 100% leased to a strong roster of national and regional tenants, including Crossroads Trading Co., 2nd STREET, Thursday Boot Company, and Saint Alfred. Saint Alfred is one of Wicker Park’s highest-performing retail apparel stores.
The Portfolio benefits from its desirable live, work, and play environment. Wicker Park has flourished into a prominent shopping and dining district that attracts both local residents and visitors. The surrounding retail corridor is home to national brands such as Barnes & Noble, Adidas Originals, CAVA, Supreme, Thursday Boot Company, and Abercrombie & Fitch, along with numerous destination restaurants and hospitality venues including the Robey Hotel.
Greenstone Partners’ Danny Spitz and Brewster Hague exclusively represented the seller, a Chicago-based investment and development company, and also procured the buyer, a New York–based investor. This closing marks Greenstone’s 72nd investment sale in the Wicker Park and Bucktown submarkets, representing a total transaction volume of $204,150,000 in the area.