STREAM Capital arranges $5M sale of Wicker Park restaurant
STREAM Capital Partners, LLC, a national net lease and sale-leaseback advisory group, has brokered the sale of Smoke Daddy, a popular Barbecue and Blues restaurant in Chicago’s Wicker Park neighborhood. A private buyer acquired the property from Arizona-based STORE Capital for $5,1000,000.
Ryan Smeele, Jordan Shtulman and Jonathan Wolfe of STREAM Capital Partners represented the seller on the transaction.
“The transaction garnered tremendous interest due to the outstanding location in the Wicker Park submarket of Chicago. The seller was able to capitalize on the strength of the submarket and long-term lease, and the buyer has a long-term lease in place with potential to add value in the future by updating the residential units in the building,” said Smeele. “The transaction worked out well for both buyer and seller.”