Scott Maesel Drew Dillon 312.676.1860 734.223.2315 [email protected] [email protected] ImageImage LandsatLandsat // CopernicusCopernicus Image Landsat / Copernicus OGILVIE TRANSPORTATION CENTER CLINTON RANDOLPH ST RANDOLPH ST LAKE ST IMMEDIATE AREA AERIAL ImageImage LandsatLandsat // CopernicusCopernicus Image Landsat / Copernicus 2 TABLE OF CONTENTS Offering Overview... Page 4 Property Survey... Page 5 Zoning Information... Page 6 Expansion Map... Page 7 Location Description... Page 8 Area Map... Page 9 Development Watch Map... Page 10 Development Watch Descriptions... Page 11 West Loop Notable Tenants... Page 13 *Conceptual Rendering 3 Offering Overview Price: $3,699,000 OFFERING OVERVIEW Site Size: ~6,061 SF Total FAR: ~42,427 SF Sub-Market: West Loop Offering Highlights • Highly desirable West Loop corner development site • Extremely valuable DX-7 zoning • Eligible for reduced parking and increased density as a TOD property • Located walking distance to Fulton Market and Randolph Row ImageImage LandsatLandsat // CopernicusCopernicus Image Landsat / Copernicus • Close proximity to Ogilvie Station 4 ImageImage LandsatLandsat // CopernicusCopernicus Image Landsat / Copernicus PROPERTY SURVEY Offering Highlights • Highly desirable West Loop corner development site • Extremely valuable DX-7 zoning • Eligible for reduced parking and increased density as a TOD property • Located walking distance to Fulton Market and Randolph Row ImageImage LandsatLandsat // CopernicusCopernicus Image Landsat / Copernicus • Close proximity to Ogilvie Station 5 TRANSIT ORIENTED DEVELOPMENT ImageImage LandsatLandsat // CopernicusCopernicus Image Landsat / Copernicus Transit Oriented Development Transit Oriented Development or T.O.D. for short is a City of Chicago initiative to promote density around public transportation, specifically CTA “L” Stations. 171 N Des Plaines falls within the designated T.O.D. boundaries of the Clinton Street “L” Station. This means the subject property may be eligible for a reduced parking requirement and increased density or floor area ratio. According to Metropolitan Planning Council’s calculation, the subject property is approximately 0.2 miles from the Clinton Street CTA Station. 6 ImageImage LandsatLandsat // CopernicusCopernicus Image Landsat / Copernicus ZONING INFORMATION Property Zoning Summary According to the City of Chicago, 171 N Des Plaines has an existing DX-7 zoning designation, which indicates the following: Zoning District Title: The zoning district classifies this property as a “Downtown Mixed-Use District” with “Downtown high-rises - offices or apartments - with ground-floor stores. Prevalent on the edges of Loop: east of Dearborn Ave, in River North, the South Loop, and the West Loop.” Floor Area Ratio: The floor area ratio is the relationship between the total amount of usable floor area a building has or is permitted to have and the total area ImageImage LandsatLandsat // CopernicusCopernicus Image Landsat / Copernicus of the lot the building is situated on. In most cases, the higher the floor area ratio, the taller the building. Per the City of Chicago’s zoning map, 171 N Des Plaines has a floor area ratio of 7. With a lot size of 6,061 SF, the property FAR would allow for a 42,427 SF building before any TOD bonuses. 7 AREA DESCRIPTION The West Loop/Fulton Market is Chicago’s former warehouse district and is among the most rapidly developing neighborhoods in the country and recently ranked by NEIGHBORHOOD TimeOut as one of the top 20 coolest neighborhoods in the world. Originally a mix of factories, meat markets, and wholesale produce outlets, the neighborhood has seen SNAPSHOT a major demographic shift over the last decade. The historic brick and timber loft buildings that define the neighborhood have largely been converted to other uses, AVERAGE INCOME including a mix of luxury condos, creative offices, art galleries, critically acclaimed MEDIAN AGE PER HOUSEHOLD restaurants, hotels, and retail boutiques. 33 $135,000 The area has evolved into a must-see destination for locals and visitors who want to eat well. With new restaurant concepts opening on almost a weekly basis, the area ESTIMATED boasts everything from Michelin Star rated Blackbird, Elske, Roister, Oriole, Smyth & ESTIMATED DAYTIME POPULATION The Loyalist and Sepia restaurants to more casual options like Green Street Smoked POPULATION Meats, Shake Shack, Sweetgreen, Parlor Pizza, Federales, Nando’s and Roti. Other 52,000 well-known dining options include Girl and the Goat, Little Goat, Monteverde, Beatrix, 94,000 Swift and Sons, Au Cheval, Lena Brava, Aviary, Momotaro, City Winery, Publican and Avec. NEIGHBORHO0D SF UNDER The neighborhood’s international reputation continues to grow with the expansion HOTEL ROOMS CONSTRUCTION of Google’s Midwest headquarters, and the opening of McDonald’s Global 845+ 1,700,000 headquarters, Soho House hotel, Nobu Restaurant and hotel, Hoxton hotel, the We Work co-working building, Punch Bowl Social and Ace Hotel. Other companies calling the West Loop home include Uber, Ernst & Young, WPP, LinkedIn and Twitter. 2018 MICHELIN TOTAL ANNUAL High-end retailers are also recognizing the area’s potential with the recent additions RECOGNIZED RETAIL GOODS of Anthropologie, Free People, Billy Reid, Aesop and Blue Mercury. RESTAURANTS EXPENDITURE 15 $570,000,000 Excellent public transportation options including Metra train access at Ogilvie and Union Station combined with one of the city’s newest CTA stations with an annual ridership of almost 1 million passengers yearly. The Morgan and Lake station will PERCENTAGE OF AVERAGE continue to attract businesses and residents alike, making the West Loop one of POPULATION HOUSEHOLD SIZE Chicago’s most exciting and desirable neighborhoods. WALKING TO WORK 1.6 31% To learn more about the West Loop, visit our blog at: www.westloopreport.com. *DEMOGRAPHIC SNAPSHOT DATA PROVIDED BY APPLIED GEOGRAPHIC SOLUTIONS & COSTAR GROUP 8 VINNIE’S SUB SHOP TWISTED SPOKE D’AMATO’S BAKERY GRAND GRAND TERRY’S GRAND SALERNO’S TOFFEE BENNETT LA SCAROLA BURGER SUSHI DAY SCHOOL BARON PICCOLO RICHARD’S SOGNO MILWAUKEEBAR UNION BUTTERFLY MART ANTHONY HUBBARD HUBBARD HUBBARD NOBLE OGDEN AUTOMOTIVE CENTER HALSTED PAGODA CITY KINZIE RED HALL JEFFERSON KINZIE KINZIE KINZIE MAY FULTON MORGAN RIVER ELIZABETH ABERDEEN NOTABLE AREA TENANTS ARBOUR CARPENTER PET CARE PARK PLUS ADM MILLING UNION ASRAI OGDEN GARDEN CARROLL DES PLAINES CARROLL HAIR CUTTERY RACINE CITY BLUE MOUSE WAYMAN WAYMAN PLATE FULTON MARKET PUNCH BOWL KITCHEN SOCIAL FULTON FIT HOUSE COLD STORAGE TIME OUT BLIND BARBER AESOP FM HAIR STUDIO MARKET CHICAGO FULTON FULTON KUMA’S FULTON REVEL WEWORK JOE’S MILWAUKEE GIBSON’S THE TRAMMEL FULTON MARKET NEXT IMPORTS ITALIA CASPER ROISTER CROW PEORIA WORLD GUS’S OFFICE ADA PACKING AVERAGE INCOME THE PUBLICAN LAFLIN JUSTINE PER HOUSEHOLD AVIARY PAGE ONE WEWORK FRIED CHICKEN FAMOUS LESLIE HINDMAN PILATES LIMITLESS BAR KUMIKO AUCTIONEERS BIG CITY TAKITO CROSS FIT MOMOTARO LAKE LAKE MONEY GUN LYON & NORTHWESTERN SHAKE BAD AXE IMMEDIATE CARE BLVD MAKO HEALY HARPS THROWING SHACK SMYTH & THE LOYALIST THE HERITAGE PARKER BIKES & RICARDO OSTERIA COFFEE SMALL BONCI CHEVAL BESPOKE CUISINE CITY FORNO ROSSO NOBU LONE GYU-KAKU WINERY KINTON AU CHEVAL AU ALHAMBRA ALHAMBRA PALACE + ART SCIENCE ANTHROPOLOGIE PRINCI PIZZERIA WOLF HUNTER BAD WEST LOOP WEST CLUB ATHLETIC HOTEL RAMEN ROOM THE FRONT MAUDE’S LA JOSIE LA UNION PARK RANDOLPH RANDOLPH TANOSHI JP RANDOLPH FREE NIA COREPOWER WEST LOOP YOGA PEOPLE VET LE PAIN QUOTIDIEN GRAZIANO DIRTY ROOT DIRTY SUSHI DOKKU BILLY REID BILLY DOUGHNUT VAULT UMAMI BURGER CHICAGO WORLD HQ SAWADA SEPIA FORMENTO’S VEGGIE GRILL VEGGIE ADA LA SARDINE GREEN STREET THE ALLIS FRENCH OGDEN MAY POLITAN ROW SMOKED MEATS FOX BAR MARKET LOOMIS FOOD HALL GREEN RACINE PEORIA HIGH FIVE WILLARD MORGAN RAMEN HALSTED ELIZABETH VCA ANIMAL THE PRESS ABERDEEN SANGAMON CARE CENTER ROOM CARPENTER WASHINGTON WASHINGTON WASHINGTON ASADITO BAR YUME OGILVIE EL CHE EL TRANSPORTATION CENTER OMASAKE BASE SALON CANAL THROOP THE MONTEVERDE CLINTON GROUNDSWELLMADISON G2 JEFFERSON MADISON JOHNNY’S ICE HOUSE RESTAURANT DES PLAINES VIAGGIO VIAGGIO RESTAURANT MADISON VINE MADISON WINES VINE PINOT’S PINOT’S PALETTE HERO BAR COFFEE TALAY CHICAGO CHICAGO TALAY AMERICAN GREAT BAGEL CROSSROADS & GRILL BAR TAVERN NOHEA CAFE SALON MADISON MADISON HM DAY MADISON *DEMOGRAPHICTHE GARDNER SNAPSHOT DATA PROVIDED BY APPLIED GEOGRAPHIC SOLUTIONS & COSTAR GROUP SPA RAIL SCHOOL CIAO CAFE SOLID CORE SUSHI THIRD NAF NAF GRILL SMILES 95 TAVERN SKYLINE STELIO’S HAROLD’S SNIPPET’S MINI CUTS JC LICHT BILLY GOAT GOAT BILLY BUTTERFLY BUTTERFLY CHICKEN FITNESS MERIT SHACK TRUE VALUE SCHOOL OF MUSIC CROSSTOWN BLACKWOOD BBQ POOCH HOTEL JAZZY JAZZY FLOWERS SUPERCUTS MONROE MONROE PAW NATURALS MONROE FIFTH THIRD CHICAGO ON YOUR BLACKIES CHILDREN’S MARK BANK THEATER TRAINING MARY IDOF SKINNER PARK SKINNER WEST BARTELME HERITAGE GREEN STREET SQUARE ROOTS LA LAGARTIJA ELEMENTARY LOCAL TAQUERIA PARK KITCHEN GREEN SOUL MORGAN DUGAN’S STREET HASTED CITY CHURCH PARK STREET DELI CAFE SANTORINI ADAMS ADAMS ADAMS PILATES PRO WORKS UNION ATHENA ARKADIA STATION CHICAGO POLICE WEST LOOP TRAINING DIVISION WHITNEY M YOUNG CANAL MAGNET HIGH SCHOOL MR GREEK CLINTON M2 GYROS JEFFERSON ELLA’S ELLA’S CORNER CAFE JACKSON JACKSON DES PLAINES TACO BURRITO MELI JACKSON HUBBARD KING STREET CAFE LOU LOU LAFLIN ARTROPOLIS GREEN RACINE PEORIA LOOMIS DANCE BAKERY 9 MUSES MORGAN HALSTED ENAMEL ENAMEL SHERWIN ABERDEEN WILLIAMS SANGAMON TITLE MITCHELL’S BOXING DENTAL