Contact Us
News

Through Wind, Rain, and Driving Snow . . .

Chicago

Want to get a jump-start on upcoming deals? Meet the major Chicago players at one of our upcoming events!

Through Wind, Rain, and Driving Snow . . .
Jeff Gittelman
The US Postal Service has its work cut out for it today as The Windy City's third largest blizzard sets in. Also working against the snow will be JLL's Jeff Gittelman, who just put under contract the 10k SFNaperville Post Office to Naperville Bank & Trust and has received a lot of interest on the Glendale Heights, Forest Park, St. Charles, Bellwood, West Dundee, and Geneva (pictured here) offices. The Naperville property was listed for $1.9M. With fewer people sending letters and fewer bills going out in the mail, many post offices areright-sizing and may lease parts of the space back from their new owners to save money and create efficiency, Jeff tells us.
Jeff Gittelman
We always wondered what went on behind the scenes. The post offices range in size from 4,500 SF to 20k SF and are located in a variety of areas—industrial parks to vibrant suburban downtowns— giving them a bunch of potential reuses, Jeff says. Naperville's Post Office will lease back some of the space from the bank, while others might move into a nearby storefront or office space. Jeff says he's seen a surprising amount of demand for some locations, especially those in interesting historic buildings, like the one in Geneva, which might make good retail space in the series of boutiques in thesuburban downtown. (We suggest putting a post office right in theHallmark store. Belated cards seem to be the USPS's last frontier.)