(For more retail coverage, click GlobeSt.com/RETAIL.)
CHICAGO-The historically significant Printed String Building at 2700 N. Elston Ave. will be turned into a health club and parking garage as part of a redevelopment. Express Fitness will take 44,000 sf of the 51,175 sf of retail space in the former string manufacturing building, while 273 parking spaces will be created in another 102,825 sf.
The building at Elston Avenue and Logan Boulevard appeared headed for landmark status. Although the redevelopment will gut the interior of the building and add parking spaces, the building's facade will be restored and preserved, with some changes necessary to attract retail tenants.
"We came together as a team and came up with a development that's a unique development," says 1st Ward Alderman Manuel Flores. "I think it's a model project and demonstrates what can be done when all parties work together."
Palatine-based Elston Logan Holdings LLC bought the property in late 2004 for $4 million, financing its purchase with a $4-million loan from Oak Brook Bank, according to property records.
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