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Buyer Sought For New North Side Whole Foods

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Whole Foods, 3201 North Ashland Ave., Chicago
The 79K SF Whole Foods at 3201 North Ashland.

Novak Construction has retained JLL to market a brand-new Whole Foods in Lakeview to potential buyers.

The 79K SF store at 3201 North Ashland opened last year, replacing a Whole Foods one block north, and serves as a flagship location. The project received some pushback in the planning stage from Lakeview residents concerned about parking, how the store would add to congestion along the six corners intersection of Belmont, Lincoln and Ashland avenues, and a lack of public space concessions for the community.

Novak has been looking to sell the building since 2016, a year before construction was completed. At the time, the firm was seeking $70M bids. Bidders will find a lot to love about the location. It is near the epicenter of the Belmont/Lincoln/Ashland intersection where 70,000 vehicles pass daily, and the property has 295 parking spots on the first floor and underground. It is a few blocks from the Roscoe Street Brown Line 'L' station, and the neighborhood has solid population density and nightlife nearby.

Whole Foods has a triple net lease on the property, with landlord responsibilities limited to roof and structure repairs.