The Boulder Group has completed the sale of a single tenant net lease Dollop Coffee retail condominium located at 1000 North Damen Avenue in Chicago, IL for $405,000.
The 1,600 square foot retail condominium is strategically located at the signalized intersection of Damen Avenue and Augusta Boulevard. Dollop Coffee is the first floor retail condominium of a brand new, high end multi-unit residence.
The state-of-the-art building will be one of the first LEED certified, multi-unit residences in the area. The property is located approximately one-quarter mile north of a new Mariano’s grocery. The surrounding area is densely populated with over 65,000 people living within a one mile radius.
The new Dollop Coffee lease is for five years and features annual rental escalations throughout the primary term and renewal option periods. Dollop Coffee is an expanding neighborhood coffee shop chain that features locally sourced products.
This Dollop Coffee location will be among the largest and the first-ever bakery/coffee shop hybrid. Dollop will utilize this location to bake pastries to supply all of their Chicagoland locations.
Jimmy Goodman and John Feeney of The Boulder Group represented the seller in the transaction; a Midwest based real estate development and investment firm. The purchaser was a Chicago based real estate investor.