CRER (Chicago Real Estate Resources, Inc) is pleased to announce the signing of a new lease for the property located at 1840 N Clark St in Chicago’s Lincoln Park Neighborhood. Nate Gautsche and Jarid Dietrich represented ownership in the 17,808 SF lease to The Board of Education of the City of Chicago for a Chicago Public Schools Early Learning Center. This preschool will serve approximately 200 students and help fulfill the district’s goal of bringing full-day preschool to every 4-year-old in Chicago.
“When we first sat down with ownership when they were looking to make a change in representation, we felt strongly that this was an ideal location for early education due to the premium location, excellent area demographics and abundant natural light in the space. We put a game plan in place and are pleased with the execution of that plan. This was truly a team effort with all parties involved, and the result is especially rewarding due to the challenges we had to overcome to get the lease to the finish line,” said Nate Gautsche, Senior Director at CRER.
Located directly across from Lincoln Park, the building had been vacant for over three years. Previously leased to Coldwell Banker, the property will undergo a multimillion dollar retrofitting to accommodate the city’s initiative of providing free Pre-K to the city’s residents. Turning a vacant office building into a center for accessible early education is a significant value add to one of the city’s premier neighborhoods.
“Working on this project through the COVID-19 pandemic certainly provided obstacles. It took a lot of dedication and persistence,” said Jarid Dietrich.
Nate Gautsche and Jarid Dietrich of CRER represented the local ownership group and Yolanda Valle and Nicole Mentone of CBRE represented Chicago Public Schools.
Chicago Real Estate Resources Inc. (CRER) is a full-service, commercial real estate firm founded in 2004. CRER specializes in a multitude of services including investment real estate sales, retail, office and industrial leasing, tenant representation, receivership services and property management.