Northbrook, IL – February 10, 2016 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, 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.
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.
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.
“Properties priced below $1 million that are located in top MSA’s achieve significant interest amongst private investors” said Jimmy Goodman, Partner of The Boulder Group. John Feeney, Vice President of The Boulder Group, added, “While single tenant properties are selling in all types of locations; core markets, like Chicago, are at the forefront of investor demand.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $3 billion of single tenant net lease real estate transactions. From 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com