1532 N Milwaukee
1532 N. Milwaukee Avenue is in the Wicker Park neighborhood of Chicago, Illinois. The Property is located along Milwaukee Avenue, just south of the busy six corner intersection of North, Damen and Milwaukee Avenues in Chicago. The property is surrounded by mixed use type developments. The property is home to the flagship store for adidas Originals. www.adidas.com.
Lipe Property Company completely transformed the building for adidas by removing the second floor to exposed the wooden bow string trusses that support the 25-foot clear ceiling
The property was acquired by an affiliate of Jenel Management Corp. and an affiliate of Lipe Property Company in 2012. At acquisition the property was fully leased to multiple tenants with below market rents. Ownership allowed the existing tenants leases to mature and once the property was vacant, completely renovated and upgraded the building including removing the entire second floor to create nearly 30 feet ceiling heights. The entire building has now been leased to adidas America on a 10 year lease. The first floor contains 6,004 square feet of open space. There is also a 4,384 square foot basement.