FOR SALE - MB Real Estate

FOR SALE:
90,000 SF Brick & Timber Loft
Redevelopment Opportunity
2 0 6 5 N O R T H S O U T H P O R T AV E N U E
CHICAGO, ILLINOIS 60614
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
• 12’ – 15’7” ceiling heights throughout
• ASKING PRICE: Subject to Offer
David Kimball
Assistant Vice President
P: 312.558.3858
dkimball@mbres.com
Jay Beadle
Senior Vice President
P: 312.558.3862
jbeadle@mbres.com
PROPERTY
PHOTOS
Bird’s Eye View From West (facing East)
2065 N Southport
Bird’s Eye View From North (facing South)
2065 N Southport
PROPERTY
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:
2061-2073 N Southport Ave, Chicago, IL 60614
Property Type:
Brick & Timber Industrial Loft Warehouse
Price:
Subject to Offer
RBA:
90,000 SF (approximately)
Land Area:
43,529 SF (1.0 acres)
Stories:
4 stories + basement
Typical Floor Size:
22,500 SF +/-
Ceiling Heights:
4th Floor – 12’6” to 13’
3rd Floor – 12’ to 12’6”
2nd Floor – 12’ to 12’6”
1st 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:
2 (freight elevators)
Parking:
~18,000 SF surface lot adjacent to building
Floor Area Ratio:
2.2
Zoning:
PMD 1 – Subgroup B
Tax ID Pin(s):
14-32-128-019
14-32-128-020
14-32-128-021
Taxes:
2013:
2012:
2011:
2010:
2009:
Ward:
Currently:
After 2/24/14:
$86,461.01
$67,054.38
$70,894.43
$71,190.52
$68,220.62
($0.96 psf)
($0.75 psf)
($0.79 psf)
($0.79 psf)
($0.76 psf)
43rd Ward (Alderman Michelle Smith)
2nd Ward
TYPICAL
FLOOR PLAN
22,500 SF Floor Plates (approximately)
SITE
PLAN
AREA
INFORMATION
2
3
Clybourn Retail Center
Webster Place
Self Park
Finkl
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
3
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
1
Finkl
5
2
Lincoln Park Plaza
Athletico
Floyd’s 99 Barber Shop
US Bank
Protein Bar
Moe’s Southwestern
Grill
Kidsnips
American Mattress
A. Lakin & Sons
A. Finkl & Sons Co.
Market Square
4
Zella
5
4
Clybourn Commons
Chipotle
noodles&company
Supercuts
Sprint
My Fit Foods
Palm Beach Tan
Closet Works
Back to Bed
PetCo
1
The Foundry
Pier 1 Imports
Modern Tuxedo
CHIASSO
Panera Bread
Dirk’s Fish
Chicago Home Fitness
Men’s Warehouse
Finkl
General Iron
Industries Inc.
AREA
INFORMATION
2065 N Southport
A. Finkl &
Sons Co.
The 606 / Bloomingdale Trail
Proposed
North Branch River Works
High Tech District
ZONING
MAP
ASSESSORS
MAP
PROPERTY
PHOTOS
East Side of Building (facing West)
South Side of Building (facing North)
PROPERTY
PHOTOS
West Side of Building (facing Southeast)
West Side of Building (facing Northeast)
PROPERTY
PHOTOS
West Side of Building (facing Northeast)
Surface Parking Lot (facing East)
PROPERTY
PHOTOS
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.
PROPERTY
PHOTOS
South Side of Building (facing North)
South Side of Building (facing North)
PROPERTY
PHOTOS
North Alley (facing East)
East Alley (facing South)
PROPERTY
PHOTOS
East Alley (facing Northwest)
Loading Dock off of East Alley (facing West)
PROPERTY
PHOTOS
View From Roof (facing South)
Interior Photo
PROPERTY
PHOTOS
Interior Photos
PROPERTY
PHOTOS
Interior Photos
AREA
DEMOGRAPHICS
Source:
CoStar Group, Inc.
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: 312.558.3862
jbeadle@mbres.com
David Kimball
Assistant Vice President
P: 312.558.3858
dkimball@mbres.com
Chicago Office
181 West Madison Street
Suite 4700
Chicago, Illinois
P: 312.726.1700
F: 312.807.3883
www.mbres.com
New York Office
335 Madison Avenue
14th Floor
New York, New York
P: 212.350.2300
F: 212.350.2301
www.mbres.com