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News release

CHICAGO

Nonprofit building in former PMD zoning hits the market

JLL to market Anixter Center property in Clybourn Corridor 


CHICAGO, July 20, 2017 – One of the first repositioning opportunities in Chicago's former planned manufacturing district (PMD) zoning is now available. JLL today announced it has been retained by Anixter Center, one of the largest nonprofit organizations in the Chicago area serving people with disabilities, to bring its 2032 N. Clybourn property to market. The listing, a four-story, 154,000-square-foot loft structure on 1.92 acres should see a multitude of investors as this area of Chicago is expected to undergo a massive redevelopment with the recent change in zoning.

JLL's Development and Asset Strategy team is leading the marketing efforts.

"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 PMD overlay, it could become some combination of retail, residential and office."

As Anixter Center prepares to move its current operations, it comes at a time when potential offerings could mean big changes for this area. In addition to the recent PMD changes, Sterling Bay is also planning for a major redevelopment of the former A. Finkl & Sons steel plant site that sits just west of Anixter's 2032 N. Clybourn building.  

"This is a unique opportunity and we are taking full advantage to ensure our financial stability for our next 100 years of service," said Dr. Teresa Garate, President and CEO of 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."

About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management had $58.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com. ​