Saturday, September 13, 2008

Development site along Chicago’s Magnificent Mile Corridor listed for sale by HFF


(The Magnificent Mile of retail real estate, Downtown Chicago)


CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) has been named to market for sale a 13,700-square-foot land site located in Chicago’s Magnificent Mile Corridor.

The HFF investment sales team is being led by managing directors Jeffrey Bramson (top left photo) and Jaime Fink (top right photo) as well as directors Daniel Kaufman and Kenneth Glomb who will market the site on behalf of the seller.

The property does not have a formal asking price and is being offered free and clear of debt.

The 0.31-acre site is currently improved with a 20,326-square-foot building. The rectangular land parcel is entitled for a variety of uses including hotel, residential and mixed-use.

Located at 237-241 East Ontario, (map bottom right) the property is adjacent to North Michigan Avenue, Northwestern Memorial Hospital’s campus and Lake Michigan in the Streeterville area of Chicago.

“Streeterville continues to offer investors the strongest retail, residential and hotel market fundamentals in downtown Chicago, making it the most liquid/supply constrained market for development sites in the city,” said Bramson.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing. http://www.hfflp.com/.

CONTACTS:

Jeffrey M. Bramson, HFF Managing Director, 312 528 3650, jbramson@hfflp.com
Kenneth J. Glomb, HFF Director, 312 528 3650, kglomb@hfflp.com
Jaime M. Fink, HFF Managing Director, 312 528 3650, jfink@hfflp.com
Daniel A. Kaufman, HFF Director, 312 528 3650, dkaufman@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com
Posted by Alex at 7:25 AM
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