CHICAGO–Users looking for creative office spaces have focused a lot of their attention on the Fulton Market neighborhood, as Google and the other top tech firms that have moved in are also attracting new retail and restaurants. But the rental rates there have soared, and some prospective tenants may be looking to gain access to the local amenities, but at cheaper prices.
That's part of the thinking behind Dayton Street Partners' acquisition of a 40,000-square-foot building and 15,000-square-feet of land, located at 1500 Carroll Ave., on the edge of the booming neighborhood, from a private seller.
Built in 1889, the five-story loft office building has housed a diverse group of companies through its history such as the Chicago Bicycle Co., the Chicago Spring Butt Co. the Trenton Wire Mattress Co. and H.S. Maynard Chemical Laboratory. It has been vacant for the past 15 years and most recently served as home to a circuit board manufacturer.
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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.
