Wicker Park/Bucktown Commercial Condos
2148-2158 N. Damen Ave., Chicago, IL 60657
1850-1854 W. Division St., Chicago, il 60622
Neighborhoods: Bucktown (Damen Ave.) & Wicker Park (Division St.)
Size: 10,000 square feet
Acquisition Date: Winter 2012
This was the purchase of a note secured by two sets of commercial condominiums in Wicker Park and Bucktown, two of Chicago’s most vibrant retail markets.
A deed in lieu was negotiated shortly after acquisition, the condominiums were subdivided and one set of the condos was sold to their users.
96.0% of the equity capital was returned within three months of acquisition and substantial value in the remaining set of condos remains.