1440 N. Dayton, Lincoln Park Boutique Loft Office Redevelopment, Almost Fully Leased Four Months After Opening

CHICAGO, IL—Real estate development company SOI:01 says 1440 N. Dayton, its four-story, 65,364-square-foot loft office redevelopment in Chicago’s Lincoln Park, is more than 92% leased less than four months after the building’s grand opening. Only two spec office suites totaling 7,388 square feet remain.

“The time, painstaking care and creativity that went into restoring this building to the point that it now stands as one of the most thoughtful office spaces in the area is nothing short of a love letter to redevelopment,” says Scott Sessa, a broker with Ameritus who is leasing the building. “And that dedication came across every time we showed the building – tenants could not resist its charm, especially in such a sought-after location.”

Current tenants at 1440 N. Dayton include Lurie Children’s Hospital, which executed a 15-year lease for the three upper floors – together comprising 41,696 square feet – one of which houses the Potocsnak Family Division of Adolescent and Young Adult Medicine. The state-of-the-art facility, which opened in October 2018, provides comprehensive primary care and specialized programming for adolescents and young adults. Other building tenants include Lurie’s Department of Child and Adolescent Psychiatry, Fusion Academy, an accredited private middle and high school emphasizing 1-to-1 relationships between students and teachers; Codeverse, a children’s coding school; and Nth Degree, a fitness studio.

Originally built in 1924 by The Seng Company, a furniture parts manufacturer, 1440 N. Dayton underwent its first office space conversion in the mid-1980s. Its current renovation, which began in fall 2016, was overseen by Micah Stanley of Lawton Stanley Architects, who sought to preserve and enhance elements of the daylight factory design, including open floor plates, 12- and 13-foot ceilings, concrete columns, exposed brick, and large expanses of windows that overlook the downtown skyline. Other improvements included a new lobby entrance, bike room with shower, mailroom with custom-designed wallpaper inspired by a Seng Company catalogue, elevator and HVAC system.

According to Sessa, another feature of the building that he believes attracted tenants and played a crucial role in its faster-than-projected pace of leasing is 1440 N. Dayton’s expansive collection of art showcased throughout all common areas.

Chicago artist Jason Pickleman served as the building’s art curator, creating original wayfinding signage and selecting one-of-a-kind pieces that reflect the renewed and intentional spirit of the building. That artwork spans various mediums, ranging from a painting by Chicago artist Andy Paczos, a direct observation, on-site painter, of 1440 N. Dayton’s second floor while it was under construction to gallery-sourced pieces that include sculptural wall art and a series of photography collages acquired through the Chicago Architecture Biennial. Some pieces are also tactile in nature, which draws interest from many of the young visitors to the building who like interacting with the art.

“A tremendous amount of thought went into each piece – in the case of the mirrored artwork featured in the elevator area, we went through 40 or 50 different options before making our final selection,” says Pickleman. “Now, people are taking selfies in front of it all the time. As a whole, the collection is intentionally abstract to leave ample room for interpretation and, hopefully, conversation among both occupants and visitors of 1440 N. Dayton.”

As part of the renovation, SOI:01 also added a new fourth floor atop the existing concrete structure, utilizing a combination of glass and metal to complement the neighborhood’s industrial aesthetic while maximizing views and natural light. Fully occupied by Lurie Children’s, the fourth level includes private rooftop space that can be used for day-to-day operations as well as fundraisers and other special events.

Additional office space was added on the building’s lower level, which was converted to spec suites, complete with kitchenettes. One of the spec suites is leased, while two additional suites on this level are the only spaces still available in the building.

In addition to offering walkability to numerous shops and restaurants, 1440 N. Dayton is accessible to commuters. The building is less than a mile east of the Kennedy Expressway and just three blocks from the CTA’s North/Clybourn Red Line station.

1440 N. Dayton is one of several new additions to the once-industrial enclave across from Goose Island, where a mix of uses have replaced former factories and warehouses. Recently completed developments nearby include a 40,000-square-foot REI flagship store located a block west of 1440 N. Dayton along the Chicago River. It will border the planned Wild Mile, a first-of-its-kind, mile-long floating eco-park that was conceived as part of the North Branch Framework Plan, a city-led effort to modernize the 760-acre North Branch Industrial Corridor.

The building’s location in a highly pedestrian-friendly area surrounded by shops, retail and dining options is another draw for tenants. Big box retailers and a number of medical offices are nearby, as well as the New City mixed-use complex. 1440 N. Dayton also provides easy accessibility from the city and suburbs with its location less than 1 mile from the I-90 expressway, three blocks from the CTA Red Line’s North Avenue station, and two blocks from the #8 Halsted CTA bus.

Correction, 4/29/2019, 11:27 a.m.: Because of incorrect information provided to GlobeSt.com, an earlier version of this article incorrectly rendered the name of one of the building’s tenants as CodeVerse; the company’s name is actually Codeverse, without the upper case “V.”