CHICAGO-Town & Country Pediatrics has signed a lease for 13,500 square feet in the $77 million new Blackhawk/Halsted development, which includes 80,000 square feet for medical office, 75,000 square feet of retail and 70,000 square feet occupied by the British School, all along the Clybourn Corridor at 1460 N. Halsted St. About 80% of the $77 million project is leased, though Michael Drew, cofounder of developer Structured Development, admits he’s having trouble leasing the retail. Only one tenant, a 28,000-square-foot REI, occupies the space since signing the lease last year.

“REI opened just a little more than a month ago, and they’ve been pleased with first month sales. This is their first location in the Chicago area,” Drew tells GlobeSt.com. “The retail has been about what we’ve expected in this market. We’ve had some inquiries from furniture, home goods and medical imaging companies. The number of users for 30,000 square feet are few, and we’ve talked to a few of them over the past year. Given the uncertainty now, we probably won’t hear anything until after the first of the year.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.