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Shapack Partners continues to identify development opportunities in Fulton Market and the Clybourn Corridor. The firm, best known for its involvement with Soho House, recently bought a 90k SF industrial building at 2065 N Southport and will convert it into loft office space.
It's a good time for Shapack to speculate in the Clybourn Corridor. Sterling Bay's $1B plan to redevelop the former A Finkl & Sons site and the nearby Gutmann Leather and Lakin General Tire sites will be the catalyst for some major development in the Clybourn Corridor PMD. Shapack president Jeff Shapack told Crain's he sees retail-anchored mixed-use in the area's future, and feels office space would make a nice complement to surrounding development.
Shapack also bought a 5k SF industrial building at Lake and Morgan in October and will redevelop it into 10k SF of retail, steps from the Morgan Street "L" station. Shapack's other Fulton Market projects include a WeWork space at 210 N Green, a 28-story apartment building, and an 11-story office structure at 213-223 N Peoria. [Crain's]
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