CRER is proud to announce the successful closing of 1700 W Hubbard Street, a 27,000-square-foot multi-tenant commercial building in Chicago’s Kinzie Corridor. The property was purchased for $4,550,000 by a local architect through a 1031 Exchange. This sale adds to CRER’s track record of successful transactions in the Kinzie Corridor and other prime industrial locations throughout Chicago.
Similar Recent Sales by CRER:
- 2710 W. Lake St, Chicago, IL 60612 – $3,117,000 Kinzie Industrial Corridor sale.
- 2214 W. Hubbard St, Chicago, IL 60612 – CRER represented the buyer in this industrial corporate expansion in the Kinzie Corridor.
- 7424 South Lockwood Avenue in Bedford Park, IL – CRER represented the buyer in the acquisition of an 84,461 Sq. Ft. food production and refrigerated warehouse for The Common Market, a national food distribution chain from Philadelphia.
Transaction Details:
Sean Mason, CCIM, Director at CRER, represented the buyer in the trade from two loft office condos in the West Loop. After evaluating more than a dozen potential properties, the buyer ultimately selected 1700 W Hubbard as the ideal fit for their business and investment goals.
The buyer plans to occupy a portion of the building for their own architectural practice while retaining the existing tenants, preserving the property’s multi-tenant character and contributing to the neighborhood’s creative and commercial energy.
A key factor in the decision was the building’s sustainability features. The long-term previous owner had invested in solar panels and geothermal heat pumps, enhancing the building’s environmental performance and long-term value. The property has also been meticulously maintained, adding to its appeal.
Sean Mason, CCIM, not only guided the buyer through the property search and negotiation process but also introduced both the lender and the 1031 Exchange Intermediary, ensuring a smooth and efficient transaction from start to finish. Dan Starczyk of Brookfield Bank served as the lender for the transaction.
“This was a thoughtful and strategic acquisition,” said Mason. “The buyer had a clear vision, and 1700 W Hubbard checked every box—from location and layout to sustainability and long-term potential. I’m proud to have helped bring it all together.”
Located in one of Chicago’s most dynamic and design-forward neighborhoods, 1700 W Hubbard is poised to continue serving as a hub for innovation, creativity, and business growth.
This transaction is the latest in a series of notable industrial sales in the area brokered by CRER.
Chicago North Side Industrial Snapshot:
- The average sale price per SF across all industrial property types in the North Chicago submarket over the past 12 months is $64/SF. And cap rates averaged 7.8%.
- Rents Trending Up: Market-wide asking rents average $12.96/SF, with logistics at $12.60/SF and flex at $18.85/SF. Annual rent growth is 3.9%, in line with the metro.
- Limited New Construction: Limited ongoing construction projects in the area signaling minimal near-term supply pressure.
- Land Constraints and Redevelopment: Developers continue to demolish outdated inventory to reposition sites. Goose Island’s new 1.2M SF logistics hub is reshaping the submarket’s profile. This project introduces institutional-grade, last-mile space into an area historically dominated by legacy buildings, signaling a shift toward vertical, high-efficiency logistics operations.
