GW Properties building Chick-Fil-A drive-thru, 7-Eleven on South Loop lot

The developer is planning 3 retail buildings on the 77K sf lot it bought earlier this year

Chicago /
Dec.December 27, 2018 12:15 PM

GW Properties principals Mitch Goltz (left) and Shai Wolkowicki and the the existing Marathon gas station at 1121 South Jefferson Street (Credit: Google Maps and GW Properties)

Chicago’s first drive-thru Chick-Fil-A will occupy one of three new retail buildings planned by GW Properties near the corner of Roosevelt Road and Jefferson Street in the South Loop.

The city’s Zoning Board of Appeals gave the developer permission last week to build the 5,000-square-foot restaurant at the corner of Clinton and De Koven streets, across the street from The Maxwell shopping mall and a block north of the famed Manny’s Deli.

GW Properties bought the 77,000-square-foot lot, which is bound by Clinton, De Koven, Jefferson and Grenshaw Street, for $10.4 million in June. The Chicago-based firm also will redevelop an existing Marathon gas station at Jefferson and De Koven into a 7-Eleven gas station with a 3,500-square-foot convenience store, principal Mitch Goltz said.

Finally, the Chicago-based firm envisions a 10,000-square-foot retail building on a vacant lot on the eastern edge of the site, facing Clinton Street. Aspen Dental will take 3,500 square feet inside the building, and GW is shopping out the remaining space.

The development will join a growing cluster of dining and shopping sites between the Chicago River South Branch and the Dan Ryan Expressway, including a Portillo’s restaurant and McCaffery Interests’ Whole Foods-anchored Southgate Market.

The Mid-America Real Estate Group is representing GW Properties in leasing discussions, Goltz said.

The developer plans to break ground at the site in the spring and open all three facilities by the end of 2019.

Earlier this month, GW and Angelo Gordon secured a $42 million loan to buy and redevelop two Macy’s department stores in Schaumburg and Oak Brook.

The firm is also awaiting permits for a 109-unit mixed-use apartment complex it plans to build overlooking the 606 trail in Bucktown,  and it’s sketching out plans to redevelop the historic Hollander Building in Logan Square, which it bought this year for $5.8 million.


Related Articles

arrow_forward_ios
Berkadia CEO Justin Wheeler with Moran & Co.'s Tom Moran (Getty)

Berkadia picks up longtime multifamily brokerage

Berkadia picks up longtime multifamily brokerage
The owner of Johnny’s IceHouse East wants to sell the 50,000-square-foot building. (Johnny's IceHouse via Facebook, iStock)

No more ice ice, baby: Indoor skating rink hits market as redevelopment opportunity

No more ice ice, baby: Indoor skating rink hits market as redevelopment opportunity
110 North Carpenter Street and 333 South Wabash Avenue (Sterling Bay, Shvo)

Here are Chicago’s 10 biggest investment sales of 2020

Here are Chicago’s 10 biggest investment sales of 2020
TTX Company CEO Thomas Wells and 101 North Wacker Drive (Google Maps)

Off the rails: Freight train provider lists West Loop HQ for sublease

Off the rails: Freight train provider lists West Loop HQ for sublease
2430 North Halsted Street and Harrison Street's Christopher Merrill (Sterling Bay; Harrison Street)

Harrison Street raises $720M for life sciences real estate fund

Harrison Street raises $720M for life sciences real estate fund
JDL Development's CRP James D. Letchinger and Halsted Flats (Getty, Halsted Flats, JDL Corp)

Luxury building near Wrigley Field hits market for $125M

Luxury building near Wrigley Field hits market for $125M
Roger Romanelli and Mayor Lori Lightfoot (Fulton Market Association, Getty, iStock)

Restaurant coalition to Lightfoot: Reopen indoor dining

Restaurant coalition to Lightfoot: Reopen indoor dining
Industrious CEO Jamie Hodari and 600 West Jackson Boulevard (Google Maps)

Flex-office provider Industrious sued by landlord

Flex-office provider Industrious sued by landlord
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...