PRIME CHICAGO REDEVELOPMENT

REAL ESTATE OFFERING

SOUTHWEST CORNER OF NORTH & ELSTON AVENUE

FORMER STANLEY’S FRESH MARKET PROPERTY

CONTACTS: PW COMMERCIAL REAL ESTATE

Ed Wabick • 773.714.2141
MWA CAPITAL ADVISORS
Ken Nofziger • 800.607.6888
ewabick@painewetzel.com ken@mwallc.com

www.stanleysnorthandelston.com
SOUTHWEST CORNER OF
NORTH & ELSTON AVENUE
FORMER STANLEY’S FRESH MARKET PROPERTY
OFFERING MEMORANDUM DISCLAIMER

This Offering Memorandum (“OM”) is based on information provided by Stanley Peters, Principal (hereinafter referred
to as “Seller”). It is being delivered on behalf of the Seller by Paine Wetzel Associates and MWA Capital Advisors
(“PW” and “MWA”, collectively the “Brokers”) to those parties who may be interested in a potential transaction with
the Seller regarding the 1558 North Elston Avenue property (the “Property”). The sole purpose of this OM is to assist the
recipient in deciding whether to proceed with a further investigation of the Property. This OM does not purport to be
all-inclusive or to necessarily contain all the information that a prospective acquirer or investor may desire in
investigating the Property. As a result, any prospective acquirer or investor must rely solely on its own due diligence
review and analysis of the Property and its future prospects.

This OM has been prepared for informational purposes relating to this transaction upon the express understanding
that it will only be used for the purposes set forth above. The Brokers and Seller each expressly disclaim any and all
liability for the accuracy of the information contained in or from omissions in this OM or any other written or oral
communication transmitted or made available by the Seller, its representatives, or the Brokers. Furthermore, the
information contained herein is as of the date hereof, or as of any earlier date described herein. The Brokers and
Seller each expressly disclaim the obligation to supplement or update any of the information contained in this OM or
any other written or oral communication transmitted or made available by Seller, its representatives, or the Brokers.
The Brokers have not independently verified such information and has not made an independent appraisal of any
assets of the Seller. The recipient shall be entitled to rely solely on the representations and warranties made to it by
Seller in any final real estate purchase agreement.

In furnishing this OM, neither Seller nor Brokers undertake any obligation to provide the recipient with access to any
additional information. This OM shall not be deemed an indication of the state of affairs of the Property nor shall it
constitute an indication that there has been no change in the condition of the Property since the date hereof.

ALL COMMUNICATIONS, INQUIRIES, AND REQUESTS FOR INFORMATION RELATING TO THE PROPERTY SHOULD BE
ADDRESSED TO THE CONTACTS LISTED BELOW, AS REPRESENTATIVES FOR COMPANY. THE SELLER SHOULD NOT BE
CONTACTED DIRECTLY.

CONTACTS: PW COMMERCIAL REAL ESTATE

Ed Wabick • 773.714.2141
MWA CAPITAL ADVISORS
Ken Nofziger • 800.607.6888
ewabick@painewetzel.com ken@mwallc.com

www.stanleysnorthandelston.com 3
TABLE OF CONTENTS

3 OFFERING MEMORANDUM DISCLAIMER Section 3

Section 1 MARKET & LOCATION
EXECUTIVE SUMMARY 11 LOCATION HIGHLIGHTS- NORTH VIEW
5 OFFERING SUMMARY 12 LOCATION HIGHLIGHTS- SOUTH VIEW
7 OFFERING PROCESS 13 MARKET HIGHLIGHTS

Section 2 Section 4
PROPERTY OVERVIEW OTHER PERTINENT INFORMATION
8 PROPERTY HIGHLIGHTS 15 LAND SALE COMPS
9 POTENTIAL PROPERTY ASSEMBLAGE 16 PLAT OF SURVEY

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EXECUTIVE SUMMARY

STANLEY’S PROPERTIES
Parcel 1 28,893 SF .66 Acres
Parcel 2 6,355 SF .15 Acres
Parcel 3 10,629 SF .24 Acres
TOTAL LAND SITE : 1.05 ACRES

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EXECUTIVE SUMMARY
1558 NORTH ELSTON
NORTH AVENUE & ELSTON AVENUE
INVESTMENT SUMMARY
Prime Redevelopment Opportunity on Chicago’s North
Side. The property is known as the former Stanley’s Fresh
Market Property. The location is the gateway into the new
Lincoln Yards Development; a 55 plus acre mixed use
community development located along the North Branch
of the Chicago River.

SOUTHWEST CORNER OF NORTH AVENUE

& ELSTON AVENUE
The property offers the following:
PARCEL Œ
1528 TO 1558 NORTH ELSTON AVENUE

Ten(10) Parcels: 28,893 sq ft of land with a 7,665 sq ft

building which is the former Stanley’s Fresh Market
Store. 436’ frontage on Elston Avenue and 56’
frontage on North Avenue.

PARCEL 
1537 TO 1541 NORTH NOBLE STREET

Three(3) Parcels: 6,355 sq ft of land area with

approximately 4,800 sq ft of buildings with coolers
used for Stanley’s Fresh Market warehouse and
storage.

PARCEL Ž
1516 TO 120 NORTH ELSTON AVENUE

Three(3) Parcels: 10,629 sq ft of land. Includes a 3 story

residential building and 2 vacant lots. 74.06’ Frontage
on Elston Avenue.

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 EXECUTIVE SUMMARY

OFFERING PROCESS
The Stanley’s Fresh Market properties are being offered
on an “as is” basis. We are soliciting all qualified offers
and will be considering price, terms and conditions of
any offers.

To receive additional offering information, please

contact Ed or Ken.

CONTACTS www.stanleysnorthandelston.com
ED WABICK, SIOR KEN NOFZIGER
Principal, Broker -PW Commercial Real Estate President -MWA Capital Advisors
Office: 773.714.2141 Office: 800.607.6888
ewabick@painewetzel.com ken@mwallc.com
7
PROPERTY OVERVIEW
DOWNTOWN
CHICAGO
PROPERTY HIG HLIG HTS
The “Stanley’s Fresh Market” properties summary is
as follows:
ΠTotal land size:
45,887 sq ft in three (3) separate adjacent
locations.

 Real Estate Taxes

Parcel 1 = $25,405
Parcel 2 = $19,524
Parcel 3 = $15,224
TOTAL 2018
REAL ESTATE TAXES = $ 60,153

Ž Zoning M2-3 (current)

• No Height Limitation
• North Branch Corridor Overlay District
Subarea
• Many potential uses including; office,
hotel, retail and residential

 Alderman- Walter Burnett Jr.

 Potential Property Assemblage:

If you are interested in adjacent properties,
we are in contact with the owners. Total
Potential Assemblage is 2.70 Acres
(including alley)

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 PROPERTY OVERVIEW  Owner 5= One (1) parcels.
Approximately 3,947 sq ft of land area
 Owner 6= One (1) parcels.
Approximately 2,073 sq ft of land area
 Owner 7= One (1) parcels.
Approximately 1,272 sq ft of land area
 Owner 8= One (1) parcels.
Approximately 3,258 sq ft of land area
 Alley = One (1) parcels.
Approximately 9,452 sq ft of land area
 Owner 9 = One (1) parcels.
Approximately 42,157 sq ft of land area

TOTAL PROPERTY ASSEMBLAGE:

Approximately 159,938 sq ft
or 3.67 acres

POTENTIAL PROPERTY ASSEMBLAGE

The properties bounded by North Avenue to
the North, Noble Street to the West and South
and Elston Avenue to the East, including 35
separate parcels.
 OWNER 1= Stanley’s Fresh Market
Sixteen (16) parcels.
Approximately 45,877 sq ft of land area
 OWNER 2= Three (3) parcels.
Approximately 7,462 sq ft of land area
 OWNER 3= Seven (7) parcels.
Approximately 29,991 sq ft of land area
 OWNER 4= Four(4) parcels.
! Approximately 14,449 sq ft of land area
9
PROPERTY OVERVIEW

TOTAL PROPERTY ASSEMBLAGE:

Approximately 159,938 sq ft
or 3.67 acres

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LOCATION HIGHLIGHTS NORTH VIEW

.5 Mile to
Clybourn Metra Station
LINCOLN YARDS
LINCOLN
YARDS

LINCOLN YARDS
13 Miles to O’Hare
International Airport

600 Ft To Kennedy 1000 Ft From Proposed

Expressway Lincoln Yards

4 Miles to Downtown
Chicago

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LOCATION HIGHLIGHTS SOUTH VIEW D O W NT O W N
C H I C AG O

.345 Miles
From Proposed
Salt District

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MARKET HIGHLIGHTS

MARKET HIGHLIGHTS
1558 N Elston is at the Southwest Corner of North
Avenue and Elston Avenue has been designated
by the City of Chicago as part of the Downtown
Expansion District. It sits at the epicenter of multiple,
vibrant neighborhoods including Noble Square,
Goose Island, Bucktown, Lincoln Park, and Wicker
Park. The property also sits in the middle of two of
the most anticipated, proposed developments,
Lincoln Yards and the Salt District.

This location offers one of the most active retail &

office markets in the City. The retail tenant roster is
filled with national and international brands, with
several boasting their flagships in the area,
including Apple, LuLuLemon, and the 3rd largest
Whole Foods in the world.

The office market is home to C.H. Robinson, Uber

Greenlight, and Mars Wrigley Global Headquarters.
The alignment of neighborhoods, development,
retailers, and residential markets makes 1558 North
Elston a coveted and well sought-after corner
which can support different types of development.

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MARKET HIGHLIGHTS

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LAND SALE COMPS

ADDRESS LAND SIZE ACREAGE SALE PRICE PRICE PSF PRICE PER ACRE SALE DATE

1850-1860 N Elston Avenue 19,700 0.45 $5,500,000.00 $279 $12,161,421 8/15/18

1300 N Halsted 19,400 0.45 $4,090,000.00 $211 $9,183,526 7/26/18

1901 N Elston Avenue 17,776 0.41 $3,660,000.00 $206 $8,968,812 7/10/18

2068 N Southport 4,018 0.09 $1,150,000.00 $286 $12,467,397 11/27/17

1401 W Wabansia 3,598 0.08 $1,350,000.00 $375 $16,344,080 9/28/17

1445 N Ashland Avenue 5,150 0.12 $1,230,000.00 $239 $10,403,650 7/17/17

1837 N Elston Avenue 8,150 0.19 $1,760,000.00 $216 $9,406,822 12/9/16

7 Sales with an average price per sf: $258.85

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PLAT OF SURVEY

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