Police said they were called to BFF Bikes in the 2000 block of N. Damen Ave., just before 7 a.m.
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Store employee Kate Roca said when she arrived, she found one of the windows shattered and five high-end bikes stolen.
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"It looks like they knew what they were going for, trying to get the high-value bikes," said Roca. "It was pretty scary to see the bike shop all broken up and broken into."
No one was hurt.
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The store has been in business for at least seven years.
Anyone with information is asked to call police.