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Chicago & Midwest  + North Side  |  January 24, 2020
Paul Bubny
By: Paul Bubny

CRER Arranges Fulton Market Sale to Shapack

Chicago Real Estate Resources (CRER) closed the sale of 400 N Peoria St. in the Fulton Market District. CRER’s Jarid Dietrich and Nate Gautsche represented the sellers, while colleague Timothy Keenan represented buyer Shapack Partners in the $7.8-million sale of the 10,800-square-foot office building.

The land was originally purchased in 2004 and later developed for architectural photographers. The space no longer fit their needs, and had been leased to software design and development firm projekt202 and creative advertising agency The Escape Pod.

CRER saw an opportunity for the property owners to realize their gains amid rapid appreciation in the Fulton Market District, and an opportunity for an experienced developer in one of the nation’s hottest office markets. CRER privately marketed the property on behalf of ownership, and negotiated a deal with Shapack.

“We feel this was a win-win for the both the buyers and the sellers,” said Dietrich.

Connect Industrial Midwest is coming to Rosemont, IL on March 4. For more information, or to register, click here.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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  • ◦Sale/Acquisition