CRE Midwest

Hansen Realty and Centrum Partners buy out partner Angelo Gordon at Bradley Business Center

BradleyBusinessCenter2
Bradley Business Center

The partnership of Chicago-based Hansen Realty and Centrum Partners has taken ownership of the popular North Center office and recreation complex Bradley Business Center at 2500 W. Bradley Place with the buyout of New York City-based Angelo, Gordon and Co.

The partnership of Chicago-based Hansen Realty and Centrum Partners has taken ownership of the popular North Center office and recreation complex Bradley Business Center at 2500 W. Bradley Place with the buyout of New York City-based Angelo, Gordon and Co.

“This partnership is committed to repositioning this unique space as a premier office and recreational destination on the city’s North Side,” said John Hansen, principal of Hansen Realty. “The property consists of 500,000 square feet on 22 acres in the very desirable North Center neighborhood of Chicago. There are few commercial space opportunities like this available in the city and recent activity has proven a testament to the benefits of this property’s location and amenities.”

Located off of Addison Street and near Western Avenue, The Bradley Business Center consists of the 350,000-square foot 2500 W. Bradley Place location, and the 150,000-square-foot 2630 W. Bradley Place, which became 100 percent leased in December 2011 with such tenants as cable provider RCN, Warner Brothers, a Lil Kickers soccer academy and Goldfish Swim School. Together, the complex offers 405 above-ground parking spaces, a rarity on Chicago’s North Side.

Most recently, the new partnership has signed two leases with IK Gymnastics and Lil Sluggers for a total of 44,000 square feet at 2500 W. Bradley. Lil Sluggers, a baseball academy will take 20,000 square feet, and IK Gymnastics will be expanding with a 24,000-square-foot lease and build-out. IK Gymnastics currently operates a 16,000-square-foot facility next door at the 2630 W. Bradley location.

“Being located in a premier residential area such as North Center has helped these recreational users flourish as these businesses offer options to families who don’t want to drive to the suburbs to provide extracurricular activities for their kids,” said Hansen. “It has also created a wonderful synergy with our office users, such as the Tribune Company and Alstyle, as both user types have different peak hours. As a result, we have created an environment that supports successful businesses in daytime and evening hours.”

Adding to the dynamic mix of tenants and space, Hansen and Centrum recently completed a 5,000-square-foot shared-office space center at 2500 W. Bradley Place. “Many successful sole practitioners live in the surrounding area and there is strong demand for easily-accessible, quality office space,” said Hansen. “For those who want to live and work in this popular community, this space offers a professional setting, complete with a state-of-the-art conference room, and an easy commute with plenty of parking.”

The shared-office center offers eight office suites, a conference room with a large-screen, 80-inch television, multimedia capabilities and a state-of-the-art kitchen space.

Now, the development team is shifting its focus to the remaining 55,000 square feet of office space that is adjacent to the new shared-office center and was occupied by the former Bodine Electric Company.

“We have a unique opportunity to add to this growing area with the ability to reposition 55,000 square feet of office space at 2500 W. Bradley,” said Hansen. “There simply are no floor plates of this size anywhere else on the North Side. We are confident that this location is primed to support the next wave of corporate growth in Chicago.”

The build-out of the new office space will include a state-of-the-art fitness center and a roof deck, offering spectacular views of the city skyline.

“As the neighborhood changes with new dynamic amenities and an influx of corporate users, the Bradley Business Center is well-situated to provide a convenient, professional location to growing companies,” said Hansen. “Our location is superb as we are close to I-90/94 for commuters and nearby public transportation also abounds, including CTA bus routes via Western and Addison and the Addison L station is only one mile west, allowing for easy transfers from train to bus.

“North Center and the surrounding residential area has become one of the hottest areas in the city, offering critically celebrated restaurants and entertainment options. With the completion of the Bradley Business Center, it will be an ideal live, work and play area for many of the city’s young-professionals.”

Hansen points out that new users are moving into the area and many established companies are growing, such as nearby WMS Gaming, which is expanding its location by 120,000 square feet and the Chicago Fire is building a 140,000-square-foot dome on Talmon Ave. (right next to the Bradley Business Center).

The Chicago Park District is also adding the new WMS Boathouse, designed by famed architect Jeanne Gang, to adjacent Clark Park and expanding its trail system to continue further north along the Chicago River. This will provide an extremely convenient recreational option and natural respite for area office workers, Hansen said.

“There are really no other areas in the city of Chicago that can provide such a convenient compliment of residential housing, large office space, parking, recreational activities and natural settings,” said Hansen. “It truly is an original and dynamic setting.”