CHICAGO - NelsonHill has been named the exclusive agent for a 91,000 square foot site in Chicago’s West Loop at 315 N. May Street.
“This is the greatest land site for development in the West Loop,” said Max Meyers of South Street Capital.
The West Loop continues to be one of the most vibrant neighborhoods in Chicago. The subject property consists of a former 47,799 square foot warehouse with 44,536 square foot adjacent land site. The two non-contiguous sites are situated between May and Aberdeen Streets on both sides of Carroll Avenue. The South Lot is zoned M2-3 and the North Lot resides in a PMD zoning district.
The property is located one block west of the new Fulton Cold Storage office conversion, developed by Sterling Bay. This 535,000 SF office building will be home to Google and SRAM and has been a catalyst for new development in the immediate area. Once known for food production and manufacturing, Chicago’s West Loop and Fulton Market District have grown into one of the most active neighborhoods in Chicago. The area benefits from easy access to transportation, trendy restaurants, night life, retail, commercial and residential developments.
“The 91,000 square foot land site is well-positioned for redevelopment, as the West Loop has transformed over the past 10 years to accommodate loft-style living, corporate office and a new restaurant development,” stated Mark Nelson of NelsonHill. “There are multiple re-zoning options available that provide flexibility for commercial uses.”
Mark Nelson and Michael Nelson of NelsonHill are the representing brokers for the property.
NelsonHill is a privately held Chicago based, full service commercial real estate firm. Established to create maximum value for their clients in real estate, the company implements a client-driven, performance based model. www.nelsonhill.com