Executive Summary
CRER is proud to announce the sale of 400 N Peoria Street in Chicago’s Fulton Market District. CRER’s Jarid Dietrich and Nate Gautsche represented the sellers and Timothy Keenan of CRER represented the buyers in the $7.8M sale of the 10,800 SF office building on a 19,214 SF lot.
The land was originally purchased in 2004 and later developed for architectural photographers. The space no longer fit their needs and had been leased to software design and development firm projekt202 and creative advertising agency The Escape Pod. CRER saw this as an excellent opportunity for the property owners to realize their gains amid rapid appreciation in the Fulton Market District as well as a unique opportunity for an experienced developer in one of the nation’s hottest office markets. CRER privately marketed the property on behalf of ownership and negotiated a deal with one of Fulton Market’s most respected developers, Shapack Partners, that closed in late December 2019.
