1.4M SF Macy's Campus Under Contract

CHICAGO—4K Diversey Partners, LLC, has just executed a contract to purchase the 1,400,000-square-foot former Marshall Field’s warehouse campus at 4000 West Diversey Ave. on the northwest side of Chicago. Now they just have to decide how to turn the currently vacant property into a moneymaker.

“We have a lot of ideas about what to do,” says Aaron Paris, one of the three key partners. However, they have been “competing so vigorously with two other bidders to gain control of the building and get a contract signed” they have not fleshed out a detailed plan. “Until last Friday, we didn’t know if we were going to be the owner. We do know that [31^st Ward] Alderman [Ray Suarez] and the city do not want these buildings torn down.”