417 N Ashland
17,290 SF Turnkey Brewery/Food Hall in Chicago's West Town / West Loop Border with an Outdoor Patio
Marketing description
CBRE, as exclusive agent, is pleased to present an opportunity to lease or acquire fee simple interest in 417 North Ashland Avenue (“the Property”) in the West Town neighborhood of Chicago, Illinois.
Built as a brewery and food hall, the Property is 17,290 SF of industrial/warehouse space, split by the brewery and the seating area for patrons. With an outdoor patio, the Property is well-suited for gatherings and events.
Located near the intersection of Ashland Avenue and Hubbard Street, the Property sits at the western edge of Fulton Market. Surrounded by a dense residential area and other industrial commercial spaces, the Property serves a deep need for food & beverage in the area.
In a city famous for craft brewing, the Property is a great opportunity for an investor to hit start on a new or successful concept or to lease the building to a promising, established tenant.
Investment highlights
Prime Corner Location on the Border Between West Loop and West Town – Bringing the fun of Fulton Market further west, and positioned close to a proposed Metra station and The 1901 Project, an upcoming development set to revitalize the area surrounding the United Center.
Turnkey Brewery & Food Hall – Perfect for an owner/user to kickstart the next phase of their food & beverage empire by expanding to West Town, an area lacking in dining & entertainment options.
Vibrant Neighbored Feel – Property borders two high growth submarkets between West Loop and West Town, comprised of young professionals with a Median Age of 33.9, a Daytime Population of 56,476, and Average Household Income of $185,131.
Updated Mechanical Systems – All major mechanical systems are less than 7 years old including, HVAC, electrical panels, duct work, lighting, electric heat, sprinklers.
Potential Covered Land Play – The Property boasts a large land footprint for future redevelopment of scale. It is currently zoned in the PMD; however this area is a likely candidate for a future lift on the PMD restrictive zoning.
Transit Oriented Location – The Property sits at Ashland & Hubbard, a 7-minute drive to I-290 and a 7-minute walk to the CTA Green & Pink Lines.
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