CHICAGO, IL- Mark Nelson of NelsonHill told GlobeSt.com that the Kinzie Industrial Corridor, where his firm just completed the sale of 1735 W. Carroll St., should see an upsurge in conversions over the next few years. For decades, the neighborhood has hosted factories and industrial warehouses like 1735 W. Carroll, but Nelson said offices and service-oriented firms will soon take their place.
“There's quite a lot of exciting action,” he said, especially the conversion of the Fulton Market Cold Storage into modern office space. The venerable refrigeration company vacated the huge structure last year and headed to the suburbs. Chicago-based Sterling Bay has begun converting the antiquated structure and looking for possible tenants.
“That gets a lot of eyes on the area,” Nelson added. “Now [Kinzie is] being looked at as an office corridor,” and this has many owners of industrial property looking for an “exit strategy.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
