Retail N Illinois

Structured Development completes purchase of Lincoln Park office loft

Structured Development purchased a 40,000-square-foot loft office building at 855 W. Blackhawk St. in Chicago’s Lincoln Park neighborhood. The property is adjacent to 1450 N. Dayton St., formerly Big Deahl Productions, which Structured acquired in 2015.

The sites will be redeveloped at The Shops at Big Deahl, a 200,000-square-foot mixed-use complex. The transaction continues to reinforce the value of real estate in the area along the Clybourn corridor. The area from Division Street to North Avenue and Larabee to Elston has seen lots of demand for commercial and residential developments.

Structured Development is in advanced negotiations with key anchor tenants and has begun demolition of the building at 1450 N. Dayton. Construction of The Shops is scheduled to begin in early 2018.