With two million square feet under active construction and another proposed eight million square feet possibly materializing within Chicago’s Central Business District (CBD) over the next three years, it is no wonder the downtown office market is showing signs of overdevelopment strain, particularly in the West Loop.
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At its core, Chicagoland’s suburban office market underpinnings are strong. Excellent access to Chicago, O’Hare, Midway, cutting-edge research in diverse industries, prized public school systems, and investment capital shall remain a draw for companies to ply their trades and families to call home.
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Chicago, IL – Bradford Allen is pleased to announce that Craig Nadborne and John Skalla arranged the purchase of 5501 S. Halsted Street on behalf of Heartland Health Outreach in Englewood for a new permanent health center for people who are experiencing instability with housing. Heartland Health Outreach already has two full-service community health clinics on the city’s Near West Side and in Uptown.
Heartland Health Outreach (HHO) was founded in 1985 as a National Healthcare for the Homeless demonstration project. Since that time, it has grown to become a federally qualified health center and leader in providing healthcare to our most vulnerable populations – those who are homeless, suffer from mental illness or addictions or have multiple chronic illnesses. Today, HHO is a $24 million organization with a dedicated staff of more than 230 professionals, who provide care to more than 12,000 individuals in the Chicago metropolitan area each year.
The nearly 8,000-square-foot center will provide primary care, mental health services, substance use treatment, and assistance with linkage to housing, assistance with applying for benefits, entitlement and more. Construction is expected to cost about $3 million and will start in August, with the center due to open in January 2018.
Chicago, IL – Bradford Allen is pleased to announce that Managing Director, Julie Lane has completed a new lease for Impact Networking at 125 S Clark Street in Chicago. The Design & Marketing Agency of Impact Networking will occupy 8,229 square-feet. Blue Star Properties’ Mike Lombardo represented the Landlord in the transaction.
Impact Design & Marketing specializes in brand development for businesses big and small, creatively providing everything from logos to websites. Established in 1999, Impact Networking offers solutions for strategic, cost-effective document workflow processes and technology in the workplace focused on document management software, custom integrations and office equipment. The company employs more than 400 people at twelve Midwest locations.
125 S Clark Street is 580,000 SF building in the center of downtown Chicago. Architect Daniel Burnham built it in 1907 as the Commercial National Bank building of Chicago. The building has recently undergone a $100 million restoration and renovation project including the addition of a rooftop terrace, fitness center and food court.
