CROSS STREETS: KINGSBURY & BLACKHAWK
REDEVELOPMENT:
RETAIL/ENTERTAINMENT SPACE
NEIGHBORHOOD: LINCOLN PARK
1501 N. KINGSBURY ST.
THE LORD COMPANIES, L.L.C.
Scott Fithian
Office: 312.944.6270
Fax: 312.944.3759
scott@lordcompanies.com

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1030 North Clark Street, Suite 300, Chicago, Illinois, 60610, Phone: 312.944.6270, Fax: 312.944.3759
Clybourn Corridor/Halsted Triangle
confidentiality agreement

This Offering Memorandum has been prepared by Greenstone Partners for use by a limited number of parties, and does not purport
to provide a necessarily accurate summary of the Property or any of the documents related thereto, nor do they purport to be all-
inclusive or to contain all of the information which prospective investors may need or desire. All projections have been developed by
Seller, Greenstone Partners and designated sources, and are based upon assumptions relating to the general economy, competition
and other factors beyond the control of Seller, and therefore are subject to variation. No representation is made by Seller or
Greenstone Partners as to the accuracy or completeness of the information contained herein, and nothing contained herein is, or
shall be relied on as, a promise or representation as to the future performance of the Property. Although the information contained
herein is believed to be correct, Seller and its officers, directors and employees disclaim any responsibility for inaccuracies and
expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Greenstone Partners,
Seller and its officers, directors and employees disclaim any and all liability for representations and warranties, expressed and
implied, contained in, or omission from, the Offering Memorandum, Argus model, or any other written or oral communication
transmitted or made available to the recipient. The Offering Memorandum does not constitute a representation that there has been
no change in the business or affairs of the Property or Seller since the date or preparation of the Offering Memorandum. This
Property is broker owned. Analysis and verification of the information contained in the Offering Memorandum is solely the
responsibility of the prospective purchaser.

Additional information and an opportunity to inspect the Property will be made available upon request by interested and qualified
prospective investors.

Seller and Greenstone Partners each expressly reserve the right, at their sole discretion, to reject any and all expressions of interest
or offers regarding the Property and/or terminate discussions with any entity at any time with or without notice. Seller shall have no
legal commitment or obligation to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless
and until such offer is approved by Seller, a written agreement for the purchase of the Property has been fully executed, delivered
and approved by Seller and its legal counsel and any conditions to Seller’s obligations thereunder have been satisfied or waived.

This Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources
available to the public, are of a confidential nature. By accepting the Offering Memorandum and Argus model, you agree that you will
hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not to disclose the Offering
Memorandum or any of the contents to any other entity (except to outside advisors retained by you if necessary, for your
determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the
prior written authorization of Seller or Greenstone Partners, and that you will not use the Offering Memorandum or any of the
contents in any fashion or manner detrimental to the interest of Seller or Greenstone Partners. If you do not have any interest in the
Property at this time, please return the Offering Memorandum forthwith.
LEAD INVESTMENT ADVISORS
DANNY SPITZ
Managing Partner
O +1 312 234 0333
D +1 312 234 0360
C +1 847 707 3420
Danny@Greenstone-Partners.com
SCOTT FITHIAN
THE LORD COMPANIES LLC
Executive Vice President
D +1 773 404 4314
F +1 773 944 9994
Scott@LordCompanies.com
JASON ST. JOHN
Managing Partner
O +1 312 234 0333
D +1 312 234 0371
C +1 312 523 6687
Jason@Greenstone-Partners.com
BREWSTER HAGUE
Vice President
O +1 312 234 0333
D +1 312 614 1498
C +1 708 285 0862
Brewster@Greenstone-Partners.com
PAUL TESDAL
Senior Vice President
O +1 312 234 0333
D +1 312 614 1499
C +1 847 340 8248
Paul@Greenstone-Partners.com
RAY SANSONETTI
Associate
O +1 312 234 0333
D +1 312 414 1251
C +1 773 343 6399
Ray@Greenstone-Partners.com
ARJAV PATEL
Associate
O +1 312 234 0333
D +1 312 448 2134
C +1 847 739 6216
Aj@Greenstone-Partners.com
GREENSTONE PARTNERS
1040 N. Halsted
Suite A
Chicago, IL 60642
O +1 312 234 0333
www.Greenstone-Partners.com
offering procedure
Greenstone Partners is the exclusive listing agent of 1501 N. Kingsbury Street, Chicago, IL 60642 (the
“Property”). The prospective Purchaser will be selected by the Seller by its sole discretion based on a variety of
factors including, but not limited to:
  • Offering Price
  • Absence of contingencies
  • Due Diligence and closing time
  • Financial strength and track record
  • Proof of funds for a financed or all-cash transaction
  • Earnest money deposit(s) and timing to become non-
    refundable
  • Real Estate Taxes will be prorated on a Accrual
    Basis at Closing
  • Confirmation of full underwriting based on materials
    provided in the Due Diligence Vault
PROPERTY INQUIRIES & TOURS
All Property inquiries should be directed to Greenstone Partners. All property tours are by appointment only and are to
be scheduled through Greenstone Partners.

PROSPECTIVE PURCHASERS
Ownership will be selling the property in an "As Is, Where Is" condition. Offers will be responded to on a "First Come,
First Served" basis. No formal call for offers date is currently contemplated; however, this is subject to change based
on ownership’s discretion.
investment summary
Greenstone Partners, as the Exclusive Investment Advisor, is pleased to present the opportunity to acquire the retail /
entertainment venue building and land site located at 1501 N. Kingsbury Street (“the Property”), at the northeast
corner of N. Kingsbury Street and W. Blackhawk Street in the vibrant Clybourn Corridor / Halsted Triangle submarket
of Chicago, Illinois. The ±32,100 square foot building was completely redeveloped in 2014 from a former brick-and-
timber loft furniture warehouse into a new location for the famous iO Theater, which relocated from Wrigleyville.

The building has ±19,000 square feet of ground level space, in addition to ±6,000 square feet of outdoor space. The
2nd level contains ±13,100 square feet and all together the building could be a turnkey opportunity for a wide variety
of uses. The Property is situated on 27,000 square feet of land in between the 3rd largest Whole Foods in the world
and several of Chicago’s largest mixed-use developments, including the recently approved $250 million ‘Big Deahl’
project under construction at the 2.2 acre site adjacent to the Property.

The Property benefits from a robust commercial corridor that includes a prominent shopping district, an exciting
entertainment district and numerous public transit options, highlighted by the CTA North / Clybourn Redline Station.
The Clybourn Corridor / Halsted Triangle submarket encompasses an extremely diverse tenant mix whose businesses
span across a wide spectrum of industries, including food, clothing, grocery, entertainment, education, performing arts,
technology, healthcare and many more. Notable retail tenants include Whole Foods (2nd highest sales in the U.S.), a
freestanding Apple Store, a brand-new flagship REI store, a new flagship 20,000 SF lululemon store, Dick’s Sporting
Goods, Anthropologie, Williams Sonoma, Nordstrom Rack, Old Navy, Mariano’s Fresh Market and many more. Other
notable users include Arclight Cinemas, The British School, and a variety of restaurants and national brands.

The area is surrounded by some of the wealthiest residential neighborhoods in Chicago and offers the ideal density
and demographics for future redevelopment with a population of 526,612 within 3-miles, an average household income
of $141,575 within 1-mile, and a median home value of $556,815 within 1-mile.

The Property offers the rare opportunity to own a unique loft building with extraordinary redevelopment optionality
situated in one of the most prominent submarkets of Chicago.
PROPERTY SUMMARY
OFFERING PRICE

GROSS LEASEABLE AREA




LAND AREA

ZONING / F.A.R

TYPE

OWNERSHIP OFFERED

MARKET / SUBMARKET

ADDRESS

DEMOGRAPHICS



PUBLIC TRANSIT
 
Subject To Offer

±32,100 Sq. Ft.
±19,000 Sq. Ft. 1st Level
±13,100 Sq. Ft. 2nd Level
±6,875 Sq. Ft. Basement


±27,000 Sq. Ft.

C3-5 / 5.0

Retail / Entertainment Building / Land Redevelopment

Fee Simple, Free & Clear of Debt

Urban Chicago / Lincoln Park

1501 N. Kingsbury Street, Chicago, IL 60642

3-mile Population: 526,612
1-mile Avg. HH Income: $141,575
1-mile Median Home Value: $556,815

CTA Red Line North / Clybourn “L” Station – ±1.78 MM annual riders
CTA Bus Routes #8, #72 – ±10.62 MM annual riders
investment highlights
REMARKABLE BUILDING - SUITABLE FOR AN ABUNDANCE OF USES The Property was completely
redeveloped in 2014 as the home of the famous iO Theater. The 19,000 square foot retail level features an
oversized circular bar, commercial kitchen, two large theaters with 190-person capacity each, a small event
space and offices. The 2nd level measures approximately 13,100 square feet and includes two theaters with
combined 200-person capacity, a small bar, and a large event space that hosts weddings and corporate events.

The Property includes a large outdoor patio space, used to host events and accommodate outdoor overflow
from the iO Theater. This space can be utilized for additional outdoor uses or parking.

FUTURE DEVELOPMENT OPTIONALITY The Property is designated as C3-5 zoning, permitting a FAR of 5.0
and facilitating large development projects. Future ownership will benefit from the optionality to vertically
develop the 27,000 square foot land site, allowing up 135,000 square feet of office and retail space as-of-right,
with a strong probability of rezoning to permit increased density and residential use.

TRANSIT ORIENTED DEVELOPMENT “TOD” The Property is located within the TOD zone of the North /
Clybourn Red Line station, qualifying for increased density on the property (higher FAR) and/or reduced
parking requirements for qualified uses. TOD rules are intended to support and sustain pedestrian-oriented
neighborhoods in areas within proximity to a CTA station or other transit options.

STRUCTURED DEVELOPMENT’S BIG DEAHL In December 2020, the Chicago Plan Commission finalized its
approval of Structured Development’s ‘Big Deahl’ 2.2-acre development at 1450 N. Dayton Street, immediately
adjacent to the south of the Property. The plan features a new public park and three residential buildings,
offering a combined total mix of 487 market-rate and affordable units.
investment highlights
SURGING AREA EVOLUTION The Clybourn Corridor / Halsted Triangle has experienced explosive
expansion of retail, office, and multi-family development projects. The neighborhood has seen
unprecedented demand for new commercial and residential options in recent years; more than two million
square feet of commercial space and 1,000+ new residential units have come online since 2012.

EPICENTER OF CHICAGO’S NORTH SIDE The Property is located within the Clybourn Corridor / Halsted
Triangle area, situated at the convergence of the Lincoln Park, Old Town, Goose Island and Wicker Park /
Bucktown neighborhoods. Among the most affluent neighborhoods in Chicago, these core North Side
neighborhoods bustle with businesses and dense residential nodes.

TOP PERFORMERS & FLAGSHIP LOCATIONS The Clybourn Corridor / Halsted Triangle features Whole
Foods’ 2nd highest grossing US location (adjacent to the Property); a new 20,000 SF lululemon flagship
store two blocks to the north; a unique freestanding Apple Store connected to the CTA Subway Station; and
a brand new REI Chicago flagship location just one block to the south with riverfront access for activities.

EXCELLENT DEMOS The Property benefits from an exceptional demographic profile located in Illinois’s #1
income zip code (60614) with a population of 517,155 within 3-miles, a 1-mile median home value of
$556,815, and an average household income of $141,575 within 1-mile.
property details
Address:

County:

Neighborhood:

Total Building Area:




Total Land Area:

Description:

Built:

Zoning:

Elevator:

Ceiling Heights:





PIN:

Taxes (2020):

Parcel Location:

Frontage:

Traffic Counts:



Public Transit:

CTA Bus Lines:
1501 N. Kingsbury Street, Chicago, IL 60642

Cook County

Lincoln Park

±32,100 Square Feet
±19,000 Sq. Ft. 1st Level
±13,100 Sq. Ft. 2nd Level
±6,875 Sq. Ft. Basement

±27,000 Square Feet

Retail / Entertainment Venue

1929

C3-5

Yes

1st Floor
Main Section - ±12’
Theater 2 ±2,500 SF - 20’10”
Theater 1 ±2,500 SF - 15’
2nd Floor - ±12’6”

17-05-213-008-0000; 17-05-213-009-0000

$116,656.76

Northeast corner of N. Kingsbury Street and W. Blackhawk Street

200’ along N. Kingsbury Street, 135’ along W. Blackhawk Street

N. Kingsbury Street – 2,325 VPD
N. Halsted Street – 15,700 VPD
W. North Avenue – 32,400 VPD

CTA Red Line North / Clybourn “L” Station - ±1.78 MM annual riders

#8 Halsted – 6.37 MM annual riders, #72 North – ±4.25 MM annual
riders
floor plan
FIRST FLOOR
floor plan
SECOND FLOOR
floor plan
BASEMENT
zoning map
lincoln park overview
In Lincoln Park, Chicago’s motto “urbs in horto” — or
“City in a Garden” — truly comes to life. Historic
churches and handsome brick row houses nestled
within landmark districts sit next to peaceful parks,
while quiet, tree-lined residential areas give way to
bustling business corridors. Over the years, Lincoln
Park has gained a reputation as one of the city’s most
desirable communities. Its shady, treelined residential
streets and stretches of exciting entertainment and
nightlife create the perfect combination of serenity
and fun.

Armitage Avenue is lined with independent boutiques
and high-end retailers; Clark Street is packed with
casual cafes, ethnic restaurants and sweet shops that
spill out onto the sidewalks during warm weather; and
Lincoln Avenue buzzes all night with bars and taverns
that cater to the young college crowd from the nearby
DePaul University campus. In addition to shopping
and dining, Lincoln Park is a diverse arts and
entertainment destination as well with a plethora of
museums, top theaters and live music clubs to pick
from.

For scenery, there’s plenty of natural beauty and
outdoors to enjoy. This North Side neighborhood’s
namesake park is sprawling 1,208 acres of green
space with a free zoo open year-round, a nature
museum and conservatory. And when the weather’s
right, head over to the lakefront trail and beaches,
where sand and surf are set against a backdrop of
downtown skyscrapers. With summertime comes an
influx of activity as people come from all over the city
and surrounding suburbs to enjoy the expansive
beach, waterfront jogging and biking trails, numerous
street festivals and farmer’s markets, and the family
favorite Lincoln Park Zoo.
clybourn corridor/halsted triangle overview
The Clybourn Corridor is a prominent shopping
district in Lincoln Park, stretching into the Near North
Side of Chicago. It serves as the North Side’s main
shopping district and includes retailers like Apple,
Crate & Barrel & CB2, REI, Eddie Bauer, Best Buy,
Forever 21, Sur La Table and Whole Foods, among
many others.

The CTA Red Line stops in the heart of the shopping
district at North/Clybourn. In a dual effort, Apple Inc.
and the CTA redesigned a former bus turnaround
separating the Apple Store and CTA Station into a
pedestrian plaza with Parisian park chairs and a water
feature. The plaza serves as a refuge from the
chaotic Clybourn/Halsted/North intersection and has
proven a popular meeting place for commuters and
shoppers alike.

Structured Development has been one of the prime
movers in transforming the Clybourn Corridor in
Lincoln Park into
a retail destination, and the Chicago-based
company launched another significant project in
2017. Structured recently completed their
development of New City, a $260 million project
consisting of 199 apartments, 360,000 square
feet of retail, 40,000 square feet of office space
and a huge parking garage with 1,100 spaces.

New City is located just one block East of the
property, and Structured has begun their next
project just one block West. They purchased a
40,000-square-foot loft office building, across the
street from 821 Eastman, at 855 W. Blackhawk
St., adjacent to a property at 1450 N. Dayton St.
– formerly home to Big Deahl Productions and
are redeveloping the 2.5 acres into 487 units of
residential in three buildings. These projects will
bolster the area’s population, traffic, and
consumer spending; only furthering the potential
for growth and success of the area’s retailers.
demographic profile
Population Summary                                                                           1 Mile                          3 Miles                      5 Miles
2020 Estimate                                                                                        55,482                         517,155                      992,881
2020 Population by Age                                                                      1 Mile                          3 Miles                      5 Miles
Average Age                                                                                          34.70                           35.90                          36.00
2020 Population by Occupation Classification                                1 Mile                          3 Miles                      5 Miles
Civilian Employed                                                                                   77.73%                        75.96%                      71.07%
Civilian Unemployed                                                                               1.54%                          1.45%                        1.88%
Civilian Non-Labor Force                                                                        20.73%                        22.54%                     27.00%
Armed Forces                                                                                         0.00%                          0.06%                       0.05%
2020 Population by Education                                                            1 Mile                         3 Miles                     5 Miles
Some High School, No Diploma                                                               5.60%                         4.71%                       11.34%
High School Grad (Incl Equivalency)                                                       7.07%                         7.20%                       13.04%
Some College, No Degree                                                                       11.12%                      12.48%                     15.22%
Associate Degree                                                                                    7.09%                         6.80%                       8.25%
Bachelor Degree                                                                                     41.52%                       38.76%                     29.92%
Advanced Degree                                                                                   27.60%                       30.04%                      22.24%
2020 Avg Household Size                                                                    1 Mile                        3 Miles                      5 Miles
Avg Household Size                                                                                1.90                            1.80                            2.00
2020 Avg Household Income                                                              1 Mile                        3 Miles                       5 Miles
Avg Household Income                                                                            $141,575                   $131,486                     $111,775
2020 Median Home Value                                                                        1 Mile                        3 Miles                         5 Miles
Median Home Value                                                                              $556,815                  $456,865                     $394,770
2020 Consumer Spending                                                                       1 Mile                        3 Miles                         5 Miles
Specified Consumer Spending: Total $                                              $776,357,000           $7,524,646,000           $11,576,315,000
Apparel: Total $                                                                                        $45,758,000            $429,822,000               $705,575,000
Entertainment/Recreation: Total $                                                            $122,924,000          $1,187,418,000            $1,793,997,000
Food and Alcohol: Total $                                                                         $207,781,000         $2,040,809,000             $3,258,124,000
Household: Total $                                                                                    $131,470,000         $1,268,894,000             $1,854,879,000
Transportation/Maintenance: Total $                                                        $162,315,000          $1,567,289,000            $2,431,949,000
Health Care: Total $                                                                                  $36,015,000           $359,553,000                $563,653,000
Education/Day Care: Total $                                                                     $70,096,000           $670,861,000                $968,137,000