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Chicago & Midwest   /   February 4, 2021

Paul Bubny
By: Paul Bubny

Sterling Bay, JPMorgan Put River West Parcel on the Market

SVN | Chicago Commercial has listed 1100 W Grand Ave in Chicago on behalf of Sterling Bay and its joint venture partner, JPMorgan Asset Management. The 22,100-square-foot parcel is located in River West, an area adjacent to Fulton Market and River North that was recently rezoned for residential development.

“Fulton Market is Chicago’s highest-performing submarket for commercial real estate, and River North has maintained a strong foothold, as well,” said Andy Gloor, CEO of Sterling Bay. “With the recent rezoning of the area for residential development and the site’s proximity to two of the city’s most populated neighborhoods, 1100 W Grand has firepower to become a residential destination serving both submarkets and has generated substantial off-market interest.”

Lead advisors on the listing are SVN |Chicago’s Scott Maesel and Drew Dillon. The JV acquired the site in 2014; it’s currently used as a surface parking lot.

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About the Author

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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