CRE N Illinois

CBRE marketing 170 N. Green Street in Chicago's Fulton Market

CBRE marketing 170 N. Green Street in Chicago's Fulton Market,ph1

CBRE has been retained by Bridgford Foods Corporation to offer 170 N. Green Street for long-term lease. The 156,000-square-foot food processing plant at the corner of Green and Lake Streets in Chicago’s Fulton Market neighborhood could be subject to potential re-entitlement and redevelopment by prospective lessors.

Located in the heart of Fulton Market, one of Chicago’s fastest-growing downtown submarkets, the property is one block north of “Restaurant Row” on Randolph Street and surrounded by several new high-profile apartment and office developments. Keely Polczynski of CBRE will represent ownership in the listing. Ownership is seeking proposals for a long-term ground lease, but will consider iterations of a sale, partial sale, joint venture or lease.

“This is one of the strongest redevelopment opportunities in the city,” said Polczynski. “Fulton Market has become a world-class market, home to major office users, as well as top hotel, restaurant and retail operators. This corner location will be surrounded by some of the city’s newest apartment and office developments, giving users direct access to a growing portion of Chicago’s top talent.”

The site—less than two blocks from the CTA Green Line stop at Morgan Street and less than half-a-mile to Ogilvie Transportation Center—was re-entitled in 2017 to allow for a mixed-use project of up to 314 multifamily units and 40,000 square feet of retail. A recent ordinance modifying Chicago’s Downtown District boundaries would allow users and developers to purchase more FAR and height. The new zoning would potentially offer the ability to re-entitle and add more density.