DL3 Realty nears lease with Discover for 127K sf

Chicago-based credit card firm would open call center at former Target location on South Side

DL3 Realty’s Leon Walker and 8560 South Cottage Grove Avenue (DL3; Google Maps)
DL3 Realty’s Leon Walker and 8560 South Cottage Grove Avenue (DL3; Google Maps)

Discover Financial Services is nearing a deal to lease 127,000 square feet at a former Target location on the South Side.

The Chicago-based credit card company envisions a call center at 8560 South Cottage Grove Avenue, according to Crain’s. It could bring up to 1,000 jobs to the area, according to the report.

DL3 Realty purchased the property last year, along with another building — about the same size — in Morgan Park. Target also occupied that space. The retailer left both locations in 2018.

Led by Leon Walker, DL3 signed Blue Cross of Illinois to a long-term lease in August at the Morgan Park location.

Walker said he is speaking with commercial tenants in addition to Discover for the Chatham space, Crain’s reported.

The Chicago office market is still sputtering, but 601W Companies recently said it would embark on a $180 million overhaul of the 680,000-square-foot building at 801 South Canal Street.

[Crain’s] — Orion Jones