Retail N Illinois

New 42,000-square-foot retail development breaks ground in Chicago's South Loop

New 42,000-square-foot retail development breaks ground in Chicago's South ,ph01
The groundbreaking ceremony of the new retail development located at 637-647 W. Roosevelt Road, held on April 17, 2018. From left to right: Bill Warman, WW Architects, Carmen Gratace, Global Builders, Inc., Billy Lumino, Global Builders, Inc., Bonita Sanchez-Carlson, Near South Planning Board, Patrick D. Thompson, Alderman, 11th Ward, Jerry Karp, 635-647 W. Roosevelt Road, LLC, Larry Vivoda, Bob’s Discount Furniture, James Schutter, Newmark Knight Frank.

A groundbreaking ceremony for a new, 42,000-square-foot retail development was recently held at 637-647 W. Roosevelt Road in Chicago. In attendance with he project developer, 635-647 W. Roosevelt Road, LLC, and general contractor, Global Builders, Inc. were 11th Ward Alderman Patrick D. Thompson, as well as representatives from Newmark Knight Frank (NKF), WW Architects, Bob’s Discount Furniture and the Near South Planning Board.

Set for completion in fall 2018, 637-647 W. Roosevelt Road will be three stories, and anchored by Bob’s Discount Furniture who is leasing the top two floors. founded in 1991 with its first store in Newington, Connecticut, Bob’s has over 100 stores in 16 states. The 637-647 W. Roosevelt location is set to open on President’s Day, February 19, 2019. NKF’s senior managing directors James Schutter and Terry Alexa, along with director Luke Sementa, are leading the brokerage team assigned to lease the remaining 10,000 square feet available on the first floor of the new development, which can either be divisible or contiguous.

“637-647 W. Roosevelt Road is a premier retail development of the Roosevelt retail corridor and once complete, will serve the South Loop, West Loop and Chinatown neighborhoods,” said Schutter. “There is a great deal of prospective tenant interest in the high-profile, street-level, small shop space that offers an outstanding location. The signage opportunities as well as the expressway exposure create a unique branding opportunity for any prospective tenants.”

Bob’s chose this location in the Roosevelt Road corridor because of its direct accessibility to the Dan Ryan Expressway and signage exposure to over 240,000 vehicles per day. The highly visible and centralized location is near a myriad of retail, restaurants and just minutes from the University of Illinois at Chicago. Once complete, 637-647 W. Roosevelt will feature 42 below-grade parking spaces, free customer parking and loading dock access.