WICKER PARK — The neighborhood's "boozy Taco Bell" has a new landlord with the sale of a vintage building anchored by the fast food eatery which sells beer, wine and alcohol-spiked "freezes.
Located at 1439 N. Milwaukee Ave., the four-story, five-unit apartment building sold to a local investor for $2.45 million, according to Baum Realty Group managing directors Greg Dietz and Danny Spitz, who announced the sale in a news release early Tuesday.
The vintage property, neighbored by a Cash America pawn shop to the north and Fringe salon to the south, went on the market last year with an asking price of $2.7 million, according to a brochure.
The apartments are located above Taco Bell, which opened last fall.
Dietz said that the Taco Bell, which has nine years remaining on its 10-year-lease, was a draw for the buyer, whom he declined to name.
“Being Taco Bell’s first ever ‘cantina’ concept drew a lot of attention to the property; attention that we harnessed into a competitive bidding environment,” Dietz said.
Spitz added, "With a solid retail tenant and unique apartments above, it was a matter of identifying a buyer that appreciates the vibrant neighborhood and its desirability to shoppers, diners, tourists and residents.”
Above the Taco Bell, the three uppers floors offer five recently updated apartments ranging from 1 to 3 bedrooms.
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