Wicker Park Bucktown Insider's Guide

In February, CANS announced they would be closing at 1640 N. Damen Avenue after 10 years. They'd lost their lease to rising rents. And who would be taking their spot?

NIKE.  So essentially increasing rents were forcing a small business to lose their lease to a large corporate chain.

NIKE quickly began construction posting the following boards around the site with the message: We Run Bucktown.

Yes, we get the double entendre. Nike-Run. We get it. But we also understand clearly the 2nd meaning. And local small business owners bristled at the lack of sensitivity of the message considering a long-time small business in Bucktown had just been put out of business. It's also interesting to see the NIKE signage with the CANS signage above it reflecting the transition from modest small business to flashy corporation.

So what do you think of NIKE's message? Advertising genius or inappropriate and tacky. Share your thoughts on Facebook.

 

 

Wicker Park - Bucktown May 2013

Image courtesy of Co-Star Group

When CANS closed in February of this year, it was rumored they were being pushed out to accommodate a higher rent tenant. And Crain's Chicago Business confirmed today that those rumors are in fact, true.

Crain's confirmed today NIKE is opening a new store in the former home of CANS at 1640 N. Damen Avenue and will join the ranks of other mega-chain stores including: Lululemon, Scotch & Soda, Diptyque, DavidsTEA and more.

 

According the the Crain's Report:

The firm plans a “Nike Factory Store,” with a 5,432 square foot single sales floor and a lower-level space for storage and an employee break area, the documents show. Nike hopes to start work on the outlet by July 15.

 

For additional information: Nike To Open Bucktown Store [CCB]

Read more: http://www.chicagorealestatedaily.com/article/20130530/CRED03/130539980/nike-to-open-bucktown-store#ixzz2UnjjlN5F

 

 

 

 Updated: February 8, 2013

 

It's official. After 10 years Cans will be closing their doors citing the increasing rents as the reason. The following was published on their Facebook page:

Sad to say but it is true. Cans will be closing. Saturday, Feb 16th will be the last night. Rents are all going up in the 'hood and we have lost our lease. So stop by and see us before doors close and let's remember all the good times over the past 10 years! (anyone know a good spot for a fun neighborhood bar?)

 

According to a notification we received via mail, the space is being rezoned to accommodate a retail tenant. We do not know which retail client will be moving into the space at 1640 N. Damen Avenue but Racked has issued information indicating a athletic wear or sports equipment store could be moving in to that space. Word on the street is it's NIKE. It's really difficult to watch small businesses being replaced by large chains. Let's hope this isn't the case with 1640 N. Damen Avenue.

 

 

Please see NY Investor article we published for additional information about who is buying our commercial space.

 

 

 

 

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Photo courtesy of @properties

Looks like another mega-brand is heading to Bucktown's Damen Avenue. Chicago Real Estate Daily is reporting that Gant is moving into 1702 N. Damen Avenue (the former home of Ener Spa).

"Damen Avenue in Bucktown has become increasingly known for its boutique retailing, making Gant a good fit for the property, said Ian Feinerman, senior commercial broker at Chicago-based @properties" who brokered the deal for his father; who also happens to be the landlord.