CHICAGO—The Chicago City Council has justapproved plans to redevelop the giant Macy's warehouse anddistribution campus on the city's northwest side intoa mixed-use development. As reported in GlobeSt.com, Chicago-based4K Diversey Partners, LLC acquired the 21-acreproperty at 4000 W. Diversey Ave. earlier this year for $10 million.
“This project will create over 1,000 new jobs in spacescomprised of a grocery store, high tech office space, 84 work/liveunits, industrial and warehouse space, self storage and a datacenter," says Alderman Ray Suarez. The property, aformer distribution center for Marshall Field's,was vacated by Macy's in 2008 and will be known as The Fields.Construction will start in 2015."This project will become theanchor of growth for the entire Northwest side."
"By redeveloping the campus into a multi-tenant project, weenvision a destination that supports office, manufacturing,warehouse and distribution jobs in Chicago," says LouSilver, chief executive officer of Studio41 and a partner of Aaron Paris andPaul Fishbein of Merit Partners,LLC who collectively make up 4K Diversey Partners LLC.Studio 41 already occupies space in the development.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
