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Chicago & Midwest  + South Side  + Office  | 

Discover Call Center in Chatham Hits the Market

DL3 Realty, which turned a shuttered Target in Chicago’s Chatham neighborhood into a call center for Discover Financial Services, has put the property up for sale, Crain’s Chicago Business reported. The hope is to repeat the payday it hit last year on a similar project in Morgan Park. 

The Chicago-based developer hired JLL to sell the Discover Customer Care Center property at 8560 S. Cottage Grove Ave., DL3 managing partner Leon Walker confirmed to Crain’s. There is no asking price for the 127,169-square-foot building, where Discover signed a 10-year lease last year to open its first new customer care center in two decades.  

A source told Crain’s the property is expected to fetch bids close to $20 million. That would be in line with a nearly identical deal Walker did in Morgan Park, where he bought a shuttered Target and leased it to Blue Cross & Blue Shield of Illinois. 

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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 13-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 15-20 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).

  • ◦Sale/Acquisition