Structured already looking to sell off part of future Shops at Big Deahl project
The firm is listing the Planet Granite climbing gym site that’s part of the 150K sf complex set to rise on the Near North Side in the coming months
Structured Development is looking to sell off the future site of its Planet Granite climbing gym, one component of its 3-acre Shops at Big Deahl retail campus set to debut near Goose Island next year.
The Chicago-based property owner is seeking $21.9 million for the roughly half-acre parcel at 1450 North Dayton Street, where construction of the 41,500-square-foot climbing gym is expected to get underway this spring, according to a Wednesday announcement from brokerage B+E.
Structured Development is “exploring a forward sale to capitalize on the full 15-year term and triple-net nature of this lease,” according to a statement from principal Michael Drew.
The announcement comes two months after Structured listed the 199-unit apartment component of New City, the entertainment complex it opened in 2015 across the street from the Planet Granite site.
Planet Granite announced in June it would anchor the Shops at Big Deahl development, which is set to include some 150,000 square feet of combined retail and commercial space alongside a half-acre park. It would face the North Branch Canal along the east edge of Goose Island, which city officials are rebranding as the “Wild Mile” nature preserve.
The city in October approved the developer’s plan for the retail site, as well as a separate proposal to build a 197-unit apartment complex around the corner on current site of the Menomonee Club. The non-profit club will take 50,000 square feet inside the proposed retail complex.