FOR SALE: 90,000 SF Brick & Timber Loft Redevelopment Opportunity

Transcription

1 FOR SALE: 90,000 SF Brick & Timber Loft Redevelopment Opportunity 2065 NORTH SOUTHPORT AVENUE CHICAGO, ILLINOIS PROPERTY HIGHLIGHTS: 4-story brick and timber industrial loft building located in Chicago s Lincoln Park neighborhood. ~90,000 SF building ~22,500 SF floor plates ~1 acre site ceiling heights throughout ASKING PRICE: Subject to Offer David Kimball Assistant Vice President P: dkimball@mbres.com Jay Beadle Senior Vice President P: jbeadle@mbres.com

2 Bird s Eye View From West (facing East) 2065 N Southport Bird s Eye View From North (facing South) 2065 N Southport

3 OVERVIEW 2065 N Southport Ave is a 4 story brick and timber loft building located in Chicago s Lincoln Park neighborhood. The property sits directly across the street from A. Finkl & Sons shuttered 22 acre campus which is one of the single largest urban infill redevelopment sites in the country. The property offers an exceptional redevelopment opportunity in a market with limited space. Address: N Southport Ave, Chicago, IL Property Type: Price: RBA: Land Area: Stories: Brick & Timber Industrial Loft Warehouse Subject to Offer 90,000 SF (approximately) 43,529 SF (1.0 acres) 4 stories + basement Typical Floor Size: 22,500 SF +/- Ceiling Heights: 4 th Floor 12 6 to 13 3 rd Floor 12 to nd Floor 12 to st Floor 13 5 to 15 7 Lower Level 10 5 Column Spacing: ~14 x 15 Year Built: 1915 Dive-in Doors: 3 Loading Docks: 6 Elevators: Parking: Floor Area Ratio: 2.2 Zoning: 2 (freight elevators) ~18,000 SF surface lot adjacent to building PMD 1 Subgroup B Tax ID Pin(s): Taxes: 2013: $86, ($0.96 psf) 2012: $67, ($0.75 psf) 2011: $70, ($0.79 psf) 2010: $71, ($0.79 psf) 2009: $68, ($0.76 psf) Ward: Currently: 43 rd Ward (Alderman Michelle Smith) After 2/24/14: 2 nd Ward

4 TYPICAL FLOOR PLAN 22,500 SF Floor Plates (approximately)

5 SITE PLAN

6 AREA INFORMATION 2 Clybourn Retail Center 3 Market Square 4 Clybourn Commons Chipotle noodles&company Supercuts Sprint My Fit Foods Palm Beach Tan Closet Works Back to Bed PetCo Webster Place Self Park Finkl Finkl A. Lakin & Sons 1 3 A. Finkl & Sons Co. 2 Immediate MD Premier Sinus Care kangaroo kids Pediatric Dentistry European Wax Center Pinky Nails Lounge For Eyes Kriser s Pet Foods Vacuum Allergy Relief Batteries Plus+ Hair Cuttery toys et cetera Smash Burger Bedding Experts 1 General Iron The Foundry Finkl Industries Inc. Pier 1 Imports Modern Tuxedo CHIASSO Panera Bread Dirk s Fish Chicago Home Fitness Men s Warehouse 4 Zella 5 Treasure Island Foods Ultimate Exposure A Marvelous Party The Right Start Dandamudi s Cabinetry Corner Playroom Carrara Shoes Weight Watchers AA Chicago Cleaning Club Oreck Vacuums Pottery Barn Kids Lincoln Park Plaza Athletico Floyd s 99 Barber Shop US Bank Protein Bar Moe s Southwestern Grill Kidsnips American Mattress 5

7 AREA INFORMATION 2065 N Southport A. Finkl & Sons Co. The 606 / Bloomingdale Trail Proposed North Branch River Works High Tech District

8 ZONING MAP

9 ASSESSORS MAP

10 East Side of Building (facing West) South Side of Building (facing North)

11 West Side of Building (facing Southeast) West Side of Building (facing Northeast)

12 West Side of Building (facing Northeast) Surface Parking Lot (facing East)

13 Southeast Side of Building (facing West) View from Clybourn Ave (facing Northwest) Excellent visibility from Clybourn Ave which has 19,043 vehicles pass this view point per day.

14 South Side of Building (facing North) South Side of Building (facing North)

15 North Alley (facing East) East Alley (facing South)

16 East Alley (facing Northwest) Loading Dock off of East Alley (facing West)

17 View From Roof (facing South) Interior Photo

18 Interior Photos

19 Interior Photos

20 AREA DEMOGRAPHICS Source: CoStar Group, Inc.

21 CONFIDENTIALITY & DISCLAIMER Neither MB Real Estate Services Inc ( Broker) nor Owner of the property makes any representation or warranty as to the completeness or accuracy of the material contained in this Offering Memorandum. The information contained within this Offering Memorandum is proprietary and strictly confidential and by accepting the contents herein, you agree (i) that you will hold and treat the Offering Memorandum and its contents in the strictest confidence, (ii) that you will not disclose any information contained within this Offering Memorandum to any other entity without the prior written consent of the Owner or Broker, (iii) that you will not use the Offering Memorandum in any manner detrimental to the interest of the Owner or Broker, and (iv) that you will immediately return any information contained herein to Broker upon request. This Offering Memorandum has been prepared to provide a summary of information to prospective purchasers and to establish only a preliminary interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Broker has not made any investigation, and makes no warranty or representation with respect to the existing or potential income or expenses for the subject properties, the presence or absence of contaminating substances or existing environmental conditions, the compliance with State and Federal regulations, the physical conditions of the properties or the size and square footage of the properties or any improvements. The Owner and Broker reserve the right, at their sole discretion, to reject any or all expressions of interest to purchase the property and expressly reserves the right at their sole discretion to terminate discussion with any entity at any time with or without notice. The Owner shall have no legal commitment or obligations to any entity reviewing this memorandum or prospective purchaser that makes an offer on the subject property unless and until that such offer for the property is approved by the Owner pursuant to its approval process and the signature of an authorized representative of the Owner is affixed to a real estate purchase agreement prepared by the Owner. CONTACTS Jay Beadle Senior Vice President P: jbeadle@mbres.com David Kimball Assistant Vice President P: dkimball@mbres.com Chicago Office 181 West Madison Street Suite 4700 Chicago, Illinois P: F: New York Office 335 Madison Avenue 14 th Floor New York, New York P: F: