CLYBOURN CORRIDOR — The "land rush" aldermen warned of in the North Branch Industrial Corridor appears to be on as the Anixter Center is putting a multimillion-dollar property at 2032 N. Clybourn Ave. on the market.
Jones Lang LaSalle is representing the nonprofit Anixter Center on the sale, after Anixter, a nonprofit serving about 8,000 people with disabilities, reportedly sealed a sale contract on another building at 2001 N. Clybourn to the R2 development firm.
JLL touted how the buildings are in the North Branch Industrial Corridor and close to Sterling Bay's impending Finkl Steel development in announcing the listing for 2032 N. Clybourn this week.
"This is a tremendous opportunity to be a part of the major transformation we are about to see in this area of Lincoln Park and along the Chicago River,” said Tom Kirschbraun, managing director for JLL. "This is a chance for investors and developers to bring an entirely new concept to a property that sits in one of the city’s strongest and most dynamic real-estate submarkets. With its frontage on Clybourn and the release of the [Primary Manufacturing District] it could become some combination of retail, residential and office."
Just this week, the Plan Commission signed off on proposed zoning changes that will throw the areas just north and south of Goose Island open to mixed-used residential developments, and final City Council approval is expected next week.
Ald. Tom Tunney (44th), a member of the Plan Commission, voted for the changes even as he warned, "This is going to be a land rush" along much of the 3.7-mile stretch of the North Branch Industrial Corridor, previously declared a Primary Manufacturing District on both sides of the Chicago River between Fullerton and Kinzie avenues.
Lincoln Park Ald. Michele Smith (43rd) has also warned that the zoning changes will throw the area open to real-estate speculators.
The Anixter building at 2032 N. Clybourn is a 154,000-square-foot loft structure on a lot just under two acres. The Tribune reported this week that it could bring in $20 million combined with the estimated $3 million sale of the 27,000-square-foot 2001 N. Clybourn building.
The Anixter Center didn't apologize for taking advantage of the market being opened to mixed-used developments.
"This is a unique opportunity and we are taking full advantage to ensure our financial stability for our next 100 years of service,” said Teresa Garate, president of the Anixter Center. "We believe that now is the time to right size our space and move our services to locations that best serve the needs of our clients."
