Chicago & Midwest + Downtown + Industrial | January 20, 2023

Humboldt Park Redevelopment Lands Its Biggest Tenant to Date

NuMat Technologies has signed a lease for around 62,000 square feet at the Terminal at 1334 N. Kostner Ave. in Humboldt Park on Chicago’s West Side, relocating later this year from its longtime home at the Illinois Science & Technology Park in Skokie, reported Crain’s Chicago Business.

The new space will be close to three times larger than its current one. It also makes 10-year-old NuMat, a spinout from Northwestern University, the largest tenant to date to plant its flag at the Terminal. The $50-million redevelopment of a cluster of old Humboldt Park warehouses is led by Chicago developer IBT Group and Joe Mansueto, the billionaire founder of Morningstar.

CBRE EVP David Saad negotiated the Terminal lease on behalf of NuMat. Doug Hayes and Zach Pruitt of Cawley Chicago oversee leasing at the property.

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CBRE's Saad

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).

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