430 ACRES IN CHICAGO, IL LOCATED ON LAKE MICHIGAN CUSHMAN & WAKEFIELD
QUICK STATS EXECUTIVE SUMMARY
Cushman & Wakefield’s Capital Markets Group has been retained by Ownership as its exclusive advisor 430 in the sale of the 8080 Lakeshore. The offering consists of 430 acres in Chicago, IL situated directly on Lakefront Acres Lake Michigan with Lakeshore Drive access.
Located just 10 miles south of Downtown Chicago, 8080 Lakeshore is one of the largest contiguous infill, waterfront parcels currently available for sale in the United States. Formerly U.S. Steel’s South Works Mill, 3+ 8080 Lakeshore offers 430 acres of land nestled on over three (3) miles of pristine Lake Michigan shoreline. Miles Of Shoreline The property’s diverse terrain offers unparalleled views of downtown Chicago, easy access to the I-90 and I-94 expressways as well as public transportation. In addition, the construction of a new four-lane extension of Lakeshore Drive was completed in late 2013. This extension runs through the site, providing two miles of highway frontage.
10 8080 Lakeshore’s proximity to the prestigious Hyde Park and historic Pullman neighborhoods, world class institutions Miles To Downtown Chicago (University of Chicago, Future Obama Presidential Library) and state-of-the-art industry (Ford Supplier Park, Method Home Products, future CTA car production facility) enables a wide variety of potential uses including, but not limited to:
• Industrial
• Research park 2X • Entertainment The Size Of Chicago’s Loop • Residential and/or mixed uses CUSHMAN & WAKEFIELD
SITE PHOTOS INVESTMENT HIGHLIGHTS
Generational Opportunity: The offering of 8080 Lakeshore provides investors with a truly rare opportunity to acquire a 430-acre urban infill development site within a global city.
Accessible Location: In addition to being located within 15-minutes of Chicago’s Loop, 8080 Lakeshore is walking distance to four (4) Metra stops, the 79th Street bus terminal and is minutes from the Chicago Skyway, I-90, I-94, I-57, I-55 and I-290. The site also boasts direct barge and boat access.
Lakeshore Drive Extension: The property benefits tremendously from the recent U.S. Highway Route 41 – South Lake Shore Drive $64 million, two (2) mile extension including a landscaped boulevard and shared bicycle lanes. This modern extension can accommodate an additional 27,000 vehicles per day.
Existing Infrastructure: There is active rail freight service on-site via the Canadian National rail line and an existing 2,600’ barge slip for ship access.
Vast Lake Michigan Shoreline: With over three (3) miles of pristine Lake Michigan Shoreline, 8080 Lakeshore provides a once-in-a-lifetime opportunity to acquire a large, visible, world-class site within a global gateway market with uninterrupted views and access to Chicago’s urban core.
Unlimited Potential: The site is well-suited for a wide variety of uses including: industrial warehouse or manufacturing, research and technology park, entertainment district, corporate campus, residential and/or mixed use development.
Steelworkers Park: The Chicago Park District transformed 16.5 acres of pristine Lake Michigan lakefront adjacent to the property into a family-friendly, public landscape with natural areas, walking and biking paths with unmatched views of Chicago’s downtown skyline.
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LOCAL ACCESS
LAKESHORE DRIVE
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CHICAGO SKYWAY (I-90)
90 SOUTH CHICAGO AVE
EAST 93RD ST CUSHMAN & WAKEFIELD
PARCELS
135 ACRES 56 ACRES 128 ACRES 111 ACRES CUSHMAN & WAKEFIELD
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METRA TRAIN STATION MUSEUM OF SCIENCE JACKSON PARK & & INDUSTRY HOSPITAL H GOLF COURSE DOWNTOWN CHICAGO (10 MILES) WASHINGTON PARK UNIVERSITY OF CHICAGO
SOUTH SHORE HOSPITAL SOUTH SHORE CULTURAL CENTER & GOLF COURSE H RAINBOW BEACH LA RABIDA CHILDREN’S HOSPITAL SOUTH H SHORE LAKE SHORE DRIVE
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LAKE MICHIGAN
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STEELWORKERS PARK NORTH SLIP CUSHMAN & WAKEFIELD
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HORSESHOE HAMMOND CASINO WOLF LAKE INDIANA HARBOR CALUMET WEST SHORE INDIANA BORDER & GULL ISLAND CHICAGO SKYWAY CALUMET PARK ILLINOIS INTERNATIONAL PORT
STEELWORKERS PARK CALUMET RIVER 90
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SOUTH CHICAGO LAKESHORE DRIVE
79TH ST & LAKESHORE DRIVE BUS STATION
LAKE MICHIGAN CUSHMAN & WAKEFIELD
OFFER PROCESS + DEADLINE
Contact 8080 Lakeshore is being offered on an ‘as-is, where-is’ basis. The prospective purchaser will be selected by the Owner in Please do not attempt to contact the Owner consultation with Cushman & Wakefield on the basis of (i) price (ii) track record of successful closing (iii) financial strength or property management staff. Questions and (iv) level of discretion to invest funds. The Owner reserves the right to accept an offer prior to this date or to remove the Property from the market at any time. regarding the offering should be directed to the following: Recipient represents that no broker or agent represents or will represent them in any possible transactions involving the Property unless disclosed in writing to Cushman & Wakefield prior to the receipt of the Evaluation Material and fully agrees to Jim Carpenter compensate their broker or agent. Neither Cushman & Wakefield nor the Owner are responsible for any compensation to be Executive Director +1 312 470 3830 paid to Recipient’s broker or agent. [email protected] Inspections Property tours must be scheduled through one of the Cushman & Wakefield team members. All potential purchasers must be Michael Tenteris accompanied by a Cushman & Wakefield team member while on site. Senior Director +1 312 470 3832 Offer Structure [email protected] In addition to highlighting your company’s recent acquisition activities, operations and capabilities, please include in your offer information address the following specifics:
Larry Goldwasser, SIOR, CCIM 1. Bid Date - An official bid date has not been set. Registered investors will be notified once a date has been identified. Senior Director 2. Buying Entity - Please specify all buyer partners (if any) +1 312 470 2323 [email protected] 3. Purchase Price - Please specify purchase price on an all cash basis 4. Capital Sources - If an advisor to an institutional fund, please specify the client 5. Debt - Please provide structure of acquisition debt financing including identification of any lender and their amount Dirk Riekse Senior Director required to review +1 312 470 1817 6. Capital Items - Please provide detail related to any capital expenditures in your underwriting [email protected] 7. Approval Process - Please summarize approval process in terms of timing and identification of any decision makers that may still need to tour (both equity and debt)
8. Earnest Money - Please identify the amount and time/conditions at which it becomes non-refundable 9. Due Diligence - Please specify when it is to commence and when it will end 10. Closing - Please specify the amount of time required to close the transaction after completion of due diligence 11. Other - Please specify any other terms and/or conditions necessary in order to close the transaction including committee approvals and specific due diligence items required to close the transaction Sales Contacts: Jim Carpenter Michael Tenteris Executive Director Senior Director +1 312 470 3830 +1 312 470 3832 [email protected] [email protected]
Market Contacts:
Larry Goldwasser, SIOR, CCIM Dirk Riekse Senior Director Senior Director +1 312 470 2323 +1 312 470 1817 [email protected] [email protected]
Kathleen Nelson Meredith Oliver Senior Director Senior Director +1 312 470 1874 +1 312 470 1829 [email protected] [email protected]