Sean Mason represented the buyer in a $3,117,000 purchase of a vacant industrial building in the Kinzie Industrial Corridor. The buyer, who was in an exchange, owns a modern art gallery in West Town and intends to retrofit this property into artist studios and workspaces.
The buyer also recognized the value in acquiring a property that would trade for nearly twice the price a mile east. As development continues to push west from Fulton Market, the appreciation potential of the asset, coupled with the owner/user utility, made this a home-run acquisition for the buyer.
The Kinzie Industrial Corridor, a dynamic and evolving area in Chicago, has long been known for its rich industrial heritage. Historically a hub of manufacturing and warehousing, this district has undergone significant transformations in recent years. Spanning several blocks, the corridor is strategically located near downtown Chicago, making it a coveted area for businesses and developers.
Its character is marked by an eclectic mix of old warehouses and modern structures, reflecting the area’s transition from traditional industry to a more diverse mix of uses including creative spaces, tech startups, and artisan workshops. The Kinzie Corridor’s proximity to transportation links and its raw, urban appeal have attracted a variety of new ventures, contributing to its reputation as a vibrant, up-and-coming part of the city. This blend of old and new, industrial and innovative, gives the Kinzie Industrial Corridor a unique identity in Chicago’s urban landscape.
