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Sterling Bay Buys Gutmann Leather, Lakin General Sites

Chicago Land

Sterling Bay bought the former Gutmann Leather and Lakin General sites in Lincoln Park. The sites, a combined seven acres near the former A. Finkl & Sons plant, are part of the Clybourn Corridor PMD and are zoned for industrial use, which makes Sterling Bay's acquisition worth watching as the district has been the source of debate over how it should be developed. Sterling Bay managing principal Andy Gloor wouldn't say what the company has planned for the site but sources told Crain's the company is leaning toward office development. This would make North Branch Works executive director Michael Holzer, a champion of keeping the PMD zoning as is, happy. [Crain's]