General Iron selling prime riverfront property along North Branch

Developers had made unsuccessful bids to buy the site, which is near Sterling Bay’s planned Lincoln Yards

Jul.July 16, 2018 09:01 AM

A junkyard (Credit: Daniel Lobo via Flickr)

General Iron Industries is selling its property on the North Side, opening up another prime riverside parcel to possible redevelopment in the North Branch Industrial Corridor.

General Iron hired JLL to market the 21.5 acres around 1909 North Clifton Avenue, according to Crain’s.

The company is merging with Reserve Management Group and moving in 2020 to a 175-acre facility on the Southeast Side.

Developers have been eyeing the General Iron property and have made unsuccessful bids to buy the site, Crain’s reported. The land is in the 760-acre stretch of the river from Kinzie Street to Fullerton Avenue that the city recently opened up to new uses by easing rules that were meant to protect manufacturers.

Sterling Bay has been acquiring the land north of and across the river from the General Iron site for its plan to create the sprawling 70-acre Lincoln Yards development.

The city also could try to buy the land for park space, which several aldermen have pushed for as part of any redevelopment along the river. [Crain’s] — John O’Brien


Related Articles

905 West Fulton Market and DineAmic founders David Rekhson and Lucas Stoioff (Credit: Thor Equities)

Prime & Provisions owner inks lease for new restaurant in Fulton Market

Thor Equities CEO Joe Sitt and a rendering of 800 West Fulton Market (Credit: SOM)

Thor Equities lands $144M construction loan for new tower

Flexport CEO Ryan Petersen and 333 N. Green Street (Credit: Getty Images, Sterling Bay)

Sterling Bay inks tech firm to latest lease at Fulton Market HQ

Chicago Skyline (Credit: iStock)

Windy City’s real estate blown away by other cities

President Donald Trump, Trump International Hotel & Tower 401 N. Wabash Avenue and Cushman & Wakefield CEO Brett White (Credit: Getty Images, Cushman and Wakefield)

Trump Tower has new leasing broker for failing retail space

Ald. Daniel La Spata (1st) and 2620 Hirsch Street in Humboldt Park (Credit: Google Maps)

RBH Group faces setback in its Teachers Village resi project

Freehand Hotel and Queensgate Investment Company CEO Jason Kow

Queensgate lands $44M acquisition loan on hip Freehand Chicago hotel

The Ramova Theatre and Ald. Patrick Daley Thomson (11th) (Credit: iStock)

A real estate encore for the Ramova Theatre