Greenstone Brokers Deal for Timber Loft Offices in Lincoln Park
Greenstone Partners arranged the $6.7-million sale of a timber loft office building in Chicago’s Lincoln Park neighborhood. Managing partners Danny Spitz and Jason St. John represented the seller, R2 Companies, in the transaction at 2001 N. Clybourn Ave. The buyer was a West Coast-based private investor.
“Lincoln Park benefits from one of the strongest demographic profiles in the Midwest,” said St. John. “Boutique neighborhood office buildings like 2001 North Clybourn will continue to benefit from increased leasing velocity. There’s been steady leasing activity at the property since the beginning of the pandemic in March 2020. This trend is further enhanced by the lack of competitive office product within Lincoln Park.”
The 24,000-square-foot building is currently 97% occupied by a diverse mix of tenants operating innovative businesses and anchored by AMP Americas, a producer of 100% renewable, closed-loop, carbon-negative fuels. The property underwent a complete renovation in recent years
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).