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Long-time Bucktown Store Loses Lease

Steven-Alan-Chicago.jpgPhoto: Racked Chicago

 

Bucktown - April 17, 2013

In a scenario that's becoming all-too-familiar these days, another independent boutique is being pushed out of the neighborhood. Riley, a 20 year Bucktown veteran at 1659 N. Damen Avenue, has lost their lease. Per an email issued by owner Stephanie Riley, rising lease costs are forcing them out and they will close at the end of May.

The building at 1659 N. Damen Avenue was sold in April 2012. Apparently the new owners are doubling the rent. 

In a trend that is becoming almost a daily occurrence, small independent boutiques and businesses who have been members of this community for many years (and who have helped create a special and distinct retail district) are being forced out. Their leases are not being extended or they just can't afford the rent. With many high end retail chains now landing on Damen Avenue, you can't help but wonder: how long it will take before Bucktown becomes another Clybourn Corridor?

 

Riley On Damen Closing. Let the Sale Begin [Racked]

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