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Novak Construction looks to sell new Whole Foods property in Lakeview

In 2016, the firm tried to unload the building for $70M before it was even finished

The Lakeview Whole Foods at 3201 North Ashland Avenue and John Novak (Credit: Chandler Inc. and Novak Construction)
The Lakeview Whole Foods at 3201 North Ashland Avenue and John Novak (Credit: Chandler Inc. and Novak Construction)

Novak Construction put its Lakeview Whole Foods property on the market, looking to sell the 79,000-square-foot space that the supermarket moved into last year.

Chicago-based Novak had been trying to sell the building in 2016, asking $70 million at the time, according to Bisnow. The new construction was not even completed at the time.

Whole Foods has a triple net lease on the location, at 3201 North Ashland Avenue and near the intersection of Belmont, Lincoln and Ashland avenues.

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Amazon bought Whole Foods last year for $13.7 billion, adding grocery stores to the list of retailers worried about how to compete with the e-commerce behemoth. [Bisnow] — John O’Brien

 

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Commercial Real EstateRetail