CRER Senior Director Nate Gautsche represented the buyer in the acquisition of a 13,633 SF bow truss building in the North/Clybourn corridor. The buyer will be occupying two thirds of the building with the 4,143 SF corner (Blackhawk & Fremont) formerly occupied by the restaurant Yolk being offered for lease by CRER.
Why North/Clybourn Corridor?
This was an attractive opportunity to acquire a building at a historically low basis that was completely redeveloped in 2018 in one of the most dynamic and evolving pockets in Chicago. Surrounded by major retails such as Apple, Lululemon, Crate & Barrel, REI and Whole Foods within 2 blocks in each direction, the site is also two blocks from New City, the North/Clybourn CTA that handles approximately 1.78M riders annually and the recently extended Wild Mile on the Chicago River.
In addition, several new residential developments have delivered next door including Foundry (324 Units), Post Chicago (126 units) and the under construction CityPads development delivering another 132 units. Many future projects are planned in the immediate area which will add to the vibrancy of this corridor: 1840 Marcey (590 apartments), 1565 N Clybourn (37 story apartment tower), Foundry Park (~2,800 units, hotel & offices) and the potential redevelopment of the 2 acre riverfront Carbit Paint site.
Why CRER?
Whether a buyer or seller, CRER’s agents will work relentlessly on your behalf and put you in the best position to achieve your real estate objectives. Contact Nate Gautsche to learn more about CRER’s brokerage services.
