Structured Development's Latest Acquisition Paves The Way For Big Deahl Expansion
Structured Development has developed over 1M SF in the Clybourn Corridor and is one of the firms most responsible for transforming the Halsted Triangle into a mixed-use and retail corridor. Structured's latest acquisition in the submarket paves the way for the firm to expand its redevelopment of the former Big Deahl Productions studio at Blackhawk and Dayton streets.
Structured acquired a 40K SF loft office building at 855 West Blackhawk, adjacent to the Big Deahl Productions studio at 1450 North Dayton. Structured Development founding principal Michael Drew said the Blackhawk site will be incorporated into The Shops at Big Deahl, a 200K SF mixed-use complex. Drew said demolition of the Dayton building, which was formerly the studios of food photographer and commercial producer David Deahl, is already underway. The Blackhawk building is occupied by tenants with nominal lease terms; Drew said that Structured will work on vacating the building and incorporating it into the Big Deahl redevelopment.
Drew said the Blackhawk property was not integral to the Big Deahl redevelopment, but its acquisition allows Structured to expand the overall footprint of the redevelopment and provide for vital retail frontage on Blackhawk. Newer developments like Structured's Newcity have brought improved streetscapes and pedestrian infrastructure, and Drew believes the Halsted Triangle is shifting toward a largely pedestrian neighborhood at a fast pace.
The acquisition of 855 West Blackhawk comes as the zoning changes to the North Branch Industrial Corridor take effect. Drew said the Big Deahl site is one of the largest remaining sites east of the corridor. It will include 50K SF of office space and the remainder will be retail and fitness. Drew said negotiations with a fitness provider are ongoing.