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Double Door's Landlord Could Be Close to Selling Iconic Club's Building

By Alisa Hauser | December 17, 2015 7:06pm | Updated on December 18, 2015 8:07am
 An agent is saying he has an exclusivity agreement and can't talk with any new potential buyers.
An agent is saying he has an exclusivity agreement and can't talk with any new potential buyers.
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DNAinfo/Alisa Hauser

WICKER PARK —  Billed in a listing as an "incredible and rare" opportunity to buy a mixed-use property in the heart of Wicker Park, the 113-year-old building that houses the Double Door Liquors music club has been on the market for nine months and real estate sources are saying that a sale could be coming soon.

"It was a quiet [sales] listing, we were aware of that," said Sean Mulroney, owner of Double Door at 1572 N. Milwaukee Ave.

Mulroney's landlord has taken the iconic music club to forcible eviction court, where Double Door's case has been continued until next month.

Steve Horvath, president of Conlon Commercial, is selling the building for longtime owners Harry and Brian Strauss. Horvath told an agent from Andrea Miller's real estate firm, which inquired about the building, that he cannot share an asking price.

"We are currently under an exclusivity clause that precludes us from sharing any information about this property during the exclusivity period," Horvath said in an email provided to DNAinfo Chicago on Thursday.

Miller said it is common for exclusivity agreements to be in place when a property is under contract with a buyer, so that an agent cannot talk to any new potential buyers.

The approximately 17,000-square-foot building at 1572 N. Milwaukee Ave. also offers 11 loft-style apartments above Double Door, ranging from 950 to 1400 square-feet.

Miller said that the property should be in high demand due to its close proximity to the Blue Line, since it is eligible for the city's Transit-Oriented Development ordinance, which would allow a developer to build more residential units with fewer required parking spaces.

"The ideal play would be to package it with the property on the corner," which currently houses Byline Bank and the former Francesca's Forno restaurant, she said. 

The building's assessed value for the 2014 tax year was $138,309, county records show

Greg Dietz, managing director of investment sales at Baum Realty Group, who is not connected to the project, acknowledged the impact that a sale of the building could have on Wicker Park.

“Double Door in many ways defines Wicker Park’s uniqueness as one of Chicago’s most dynamic neighborhoods. With a potential sale, the ground floor will need to command a rental rate that only a national brand can stomach. The location adjacent to the ‘L’ station speaks for itself [and] with frontage on both Damen and Milwaukee Avenues, that is hard to beat," Dietz said.

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