2829 W Armitage Ave, Chicago, IL

Description:

Mixed-Use Investment Opportunity | Logan Square | Chicago, IL


2829 W Armitage Ave, Chicago, IL 60647

 

KW Commercial is pleased to present the rare opportunity to acquire a fully stabilized, mixed-use investment asset located in the heart of Chicago’s thriving Logan Square neighborhood. Positioned at the signalized corner of Armitage Ave and Mozart St, this three-story, 15,600-square-foot building offers exceptional visibility, durable in-place income, and a best-in-class commercial tenancy anchored by the renowned Bar Parisette, a 7,000 SF destination restaurant with a significant local following.

 

Executive Summary

This 100% occupied, 5-unit mixed-use property blends a high-performing retail/restaurant tenant with four residential apartments in one of the strongest submarkets on Chicago’s Northwest Side. Featuring two recently renovated residential units (2025), modernized building systems, and substantial 2022 capital improvements, the property provides investors with a high-quality, low-maintenance asset in a rapidly appreciating location.

 

Property Highlights

 

Institutional-Quality Mixed-Use Asset


Total Building Size: 15,600 SF
Lot Size: 5,250 SF
Zoning: B3-1
Configuration:

(1) 7,000 SF commercial restaurant
(4) residential units: two (2) front units recently rehabbed + two (2) additional updated units


100% Stabilized and fully leased
Three-story masonry construction with strong curb appeal and modern systems


 

Commercial Component – Bar Parisette (7,000 SF)

 

A recognized neighborhood anchor, Bar Parisette brings strong brand equity and consistent foot and destination traffic. Its presence elevates the asset’s market profile and reinforces long-term income durability.

 

Lease Summary:


Current Rent: Upon Request
Annual Increases: Upon Request
Tenant Pays: 50% of building real estate taxes + 50% of water usage
Full HVAC (hot/cold forced air)
500 SF outdoor deck used for dining and customer activation
Significant tenant investment in buildout and FF&E


 

Residential Component – Four Updated Units

 

The residential portion capitalizes on Logan Square’s extremely strong demand for modern, efficient apartment units.

 

Residential Features:


(4) 2BD / 1BA units
Two front units were recently rehabbed with contemporary finishes, updated flooring, refreshed kitchens/baths, and improved mechanical/electrical upgrades (2025)
All units include in-unit washer/dryer, separate furnaces, and individual hot water tanks
Copper plumbing
Strong rental demand due to walkability, transit access, and the surrounding retail corridor
Excellent tenant retention and stable rental income


Significant Recent Capital Improvements

 

Ownership invested $250,000+ in 2022, reinforcing long-term structural integrity and reducing investor exposure to near-term expenses. Improvements include:


New tear-off roof
Full building tuck-pointing
Modernized HVAC systems
Plumbing and mechanical enhancements
Structural upgrades
Refreshed façade work and common-area improvements


This positions the property as a turnkey, low-maintenance investment in a premium submarket.

 

Unmatched Logan Square Location

 

The property sits in one of Chicago’s most dynamic and high-demand neighborhoods - an epicenter of residential growth, dining destinations, creative retail, and lifestyle amenities.

 

Prime Corner Positioning & High Visibility


Located at Armitage Ave & Mozart St
21,688 ADT (Average Daily Traffic)
Signalized intersection ensures consistent exposure
Wide frontage with clear branding and signage opportunities


 

Surrounded by National & Regional Tenants

 

Directly across from the brand-new Small Cheval, and steps from:


Athletico Physical Therapy
Bank of America
CVS
T-Mobile
Additional national quick-service restaurants, cafés, and boutique retailers
Heavily populated residential density driving consistent day & night activity


Transit-Rich Environment


Minutes to the CTA Western Blue Line
Multiple bus routes along Armitage, Western, and California
Walkable, bike-friendly urban grid with excellent customer and tenant accessibility


Investment Thesis

 

2829 W Armitage Ave offers a rare combination of stabilized income, substantial recent improvements, a renowned commercial anchor, and newly upgraded residential units—making it an ideal acquisition for investors seeking strong in-place returns with long-term value appreciation.

 

Investors benefit from:


Predictable, diversified cash flow
Limited capital expenditure exposure
A highly sought-after Logan Square location with continued upward rent pressure
A premier restaurant tenant with strong local brand presence
Newly rehabbed residential units supporting premium rents and strong retention


This trophy-caliber mixed-use asset stands as a strong long-term hold with both yield and appreciation potential.

 


Logan Square, Chicago

Why We Love It:

Logan Square is a thriving, multi-cultural community of arts organizations, intimate music venues, locally owned shops, trendy cocktail bars, and beyond. Its creative energy and urban vibe make it a go- to for locals looking for the next cool thing.

Explore like a local:

- Enjoy a seasonal, locally sourced meal at neighborhood favorite Lula Cafe, a pioneer of the farm-to- table movement.
- Check out Wolfbait & B-Girls, a boutique showcasing wares from more than 300 local makers.
- Hit the patio for fried chicken, ping pong, and negroni slushies at Parson’s Chicken and Fish.

- Enjoy outstanding food at Bar Parisette Insider Tips:

Walk the boulevards:

Take a stroll down stately Logan Boulevard, which cuts through the heart of the neighborhood. It’s lined with regal limestone homes and anchored by the soaring Illinois Centennial Monument, designed by the same architect who created the Lincoln Memorial in Washington D.C. It’s also home to the award-winning Logan Square Farmer’s Market, which features some of the region’s best vendors.

Catch a screening in a vintage movie house: Just a few steps away, you’ll find the historic Logan Theatre. This vintage movie house opened in 1915 and has been revamped to include a cozy bar and lounge. The Logan, as the locals call it, screens everything from first-run films to cult classics to indie favorites. It also hosts the annual Chicago Underground Film Festival, the longest-running underground film fest in the world.

Try some buzz-worthy eateries: Among the neighborhood’s diverse dining scene, you’ll find Michelin- rated spots, pizza places with cult followings, funky noodle shops, hip coffee houses, and unexpected fusion concepts.

A few can’t-miss bites: housemade pasta at Daisies, refined Greek favorites in a lush atmosphere
at Andros Taverna, rooftop tacos and margaritas at Lonesome Rose, and Alpine-inspired small plates on the hidden patio at Table, Donkey and Stick.

Drink local:

For a taste of Logan Square nightlife, take your pick from trend-setting cocktail bars, under- the-radar venues with local bands, and burgeoning breweries and distilleries. Check out Longman & Eagle, a modern take on an old-school Chicago inn with a mind-blowing whiskey selection. Or order a cocktail made with small-batch spirits at family-owned Chicago Distilling Company. Catch a performance at cool-kid staple The Whistler, a hybrid cocktail bar, gallery, record label, and music venue.



Premier Mixed-Use Asset in a High-Growth Corridor: Strategically positioned at the signalized intersection of Armitage Ave & Mozart St, this 15,600 SF mixed-use building benefits from exceptional visibility, 21,688 ADT, and a corner footprint that anchors one of Logan Square’s most dynamic and fast-appreciating commercial corridors. The asset sits steps from national brands and top-tier local operators, solidifying its long-term desirability and demand.
Stabilized, Diversified Income Stream with Strong Retail Anchor: The property is 100% occupied, featuring a 7,000 SF commercial space leased to Bar Parisette, a well-established, destination restaurant with strong brand recognition and a loyal customer base. Their significant investment in interior buildout and FF&E strengthens tenancy durability and ensures consistent, dependable cash flow.
Newly Upgraded Residential Component with Strong Demand Drivers: The four residential units—each 2BD/1BA—capitalize on Logan Square’s unmatched rental strength. Two units were fully rehabbed in 2025, and the remaining two are modernized with updated finishes and mechanicals. All units include in-unit washer/dryer, individual HVAC, and separate hot water tanks, resulting in higher tenant retention, premium rents, and minimal turnover risk.
Over $250,000 in Major Capital Improvements Completed: Ownership completed more than a quarter-million dollars in building upgrades in 2022, including a new tear-off roof, full tuck-pointing, mechanical modernization, plumbing upgrades, structural enhancements, and refreshed façade elements. These improvements significantly reduce near-term capex exposure and position the property as a turnkey, low-maintenance investment.
Irreplaceable Logan Square Location Surrounded by National Retailers: The property is directly across from the brand-new Small Cheval and steps from Athletico, Bank of America, CVS, T-Mobile, multiple QSR operators, boutique retailers, and a dense residential base. This concentration of national and regional tenants enhances the retail ecosystem and ensures consistently strong foot, vehicular, and destination traffic.
Transit-Rich, Highly Walkable Urban Environment: With immediate access to the CTA Western Blue Line, multiple bus routes, and a heavily walkable, bike-friendly street grid, the property benefits from superior connectivity. Tenants—both commercial and residential—enjoy exceptional accessibility, supporting long-term occupancy and neighborhood desirability for years to come.
Durable Long-Term Investment with Appreciation Potential: Combining stabilized cash flow, upgraded residential units, a high-performing restaurant anchor, prime land positioning, and Logan Square’s rising rental trajectory, 2829 W Armitage Ave represents a trophy-caliber asset poised for continued value growth. Investors gain a rare opportunity to secure predictable income today with meaningful appreciation upside in one of Chicago’s strongest submarkets.