Oakbrook Terrace, Ill. (August, 2019)—Cawley Chicago has been retained as the exclusive representatives for an outstanding investment opportunity located at 1640 W. Hubbard St in Chicago, IL. Comprised of two cohesive buildings, the site offers 35,866 rentable square feet. Currently cash flow positive, 1640 W Hubbard provides an immediate value-add opportunity, with significant medium- to long-term growth potential. The project is 100% leased with seven tenants and offers a perfect balance of flexible, distribution, commercial kitchen and creative loft office space.
As business owners and tenants continue to get priced out of the West Loop and Fulton Market, the demand continues to look West. The site is appropriately located in the Kinzie Corridor which is rapidly becoming the neighborhood for creators and makers, and is attracting high growth companies looking for flexible, creative space. The site offers many outstanding investment highlights including in-place potential, convenient public transportation, unparalleled location, new relaxed zoning and permitted uses, qualified opportunity zones and most importantly the inability to recreate a lasting neighborhood culture that’s been building for more than 30 years.
The Cawley Chicago Urban Development team, led by Zach Pruitt, will be bringing the opportunity to market in August of 2019. “We are extremely honored to present this offering to the market. With the in-place value, all the potential, and everything that is going on within the Kinzie Corridor, there are few opportunities in the market like this,” says Pruitt.
As seen in: Connect Chicago