River District Loft Sublease Available at 900 N North Branch on Goose Island

September 13, 2018

Patrick Brady

Market Expert

Assistant Director, Savills Studley

Illinois Licensed Real Estate Broker

Call 312-595-2987

170,000 Square Feet Offers Tenants the Chance to Shape Their Brand and the Future of the Area

Background

Goose Island (which gave the famous brewery its name) was originally not an island at all, but a stretch of industrial development along the Chicago River that connected river traffic to rail lines. In 1853, developers eager to further capitalize on this port dredged the North Branch River Canal and created the 160 acres of the only island on the Chicago river. Since then, the area has had its ups and downs — for a time, manufacturing and industry flourished, until de-industrialization took companies out of the city. Companies like Kendall College and Wrigley quietly reinvested, and now Goose Island is primed to become the next big development area in the city of Chicago.

This property is perfect for a tenant who wants to soak up a storied history while directly shaping the future of their surroundings. Surrounded by residential and commercial areas including Lincoln Park, Old Town, Clybourne Corridor, Wicker Park, and Noble Square, Goose Island still remains relatively undeveloped. It’s a unique opportunity for development and value-creation — especially with this fantastic property that’s just come on the market.

The Property

900 N North Branch is the only existing large block office space on Goose Island — a blank canvas asking for inspiration. It formerly housed Kendall College, until National Louis University acquired its degree programs from Laureate Education. Kendall will move next year into NLU’s Michigan Avenue Campus, opening up this enormous, flexible space.

The eight loft-style floors will be stripped down to their roots to expose the historic concrete, brick and timber that have become coveted by creative office users in recent years. Oversized windows line the walls, providing unparalleled city views and abundant light. The building’s 170,000 square feet can be efficiently cut and repurposed for any user, and the building is only going to get better over time, with plans for a renovated lobby, elevator lobbies, fitness center, and state-of-the-art roof deck.

The building directly abuts the river, and planned renovations will include a riverfront walkway and expanded outdoor space. The property includes the right to build out a dock, and this riverfront will undoubtedly come alive as the island transforms into a mixed-use destination. Finally, the signage on this building is truly remarkable. Your company’s name can be all over this building, on street level, the building crown, and facing the expressway. If you’re looking to establish yourself as a major player and make your name known, this is the place to go.

The Area

The neighborhood is largely protected from morning Chicago congestion, and plans to revamp the transportation on the island will transform ease of access. The property comes with an amazing 200 parking spots and already has direct access to the expressway. Renovations will place no fewer than 3 train stations in the neighborhood, guaranteeing a speedy commute from anywhere in town. With an additional water taxi route and expanded automobile bridges, the island will be an oasis in the busy commuting scene just a short jaunt from the Loop.

Goose Island has no shortage of nearby food and entertainment. Off Color Brewing’s Mousetrap is just down the street, and groundbreaking theaters like iO, Steppenwolf, and the Second City are a short 10 minute bus ride away. Inexpensive bites include The Daily Grind, Goose Island Shrimp House, Jerk, and Sweet Miss Giving’s; more upscale options range from the Montgomery Club to Boka and the incomparable Alinea.

Companies like Groupon, the Big Ten Network, Apple, Trunk Club, and REI are already taking advantage of the rising retail, transportation, and life-style amenities in this area. The success of nearby properties like 600 West Chicago provides a clear example of the potential of this area.

Details

The Class A office building offers spaces between 55,000 and 170,000 SF, with 16,000 to 25,000 SF floor plates. Kendall’s long-term sublease extends through 2028, so any potential tenant can rely on lease stability. Be among the first to jump on this beautiful, perfectly-located property, get your name known, and make your mark on Goose Island and the city.

For more information, send us an email — this is truly a once-a-decade opportunity, and we don’t expect the space to be on the market for long!

 

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