By Jordan Rummel
Special to Inside
The contracts for a set of four large office buildings located in the Ravenswood area are nearing finalization for their new tenants. Set between 4011 and 4043 N. Ravenswood Ave., the buildings were marketed by Laird and Co., one of the leading brokerages on the North side. The contracts are now pending for the new occupants of the units.
Though the buildings were for sale as a whole at 145,000 square feet, they were sold as four separate units. The units at 4011 and 4025 N. Ravenswood are 19,000 square feet and 33,000 square feet respectively and both one story buildings. The unit at 4039 N. Ravenswood is a 31,000 square foot, two-story building, and the unit at 4043 is 62,000 square feet with three stories.
The buildings, which went up for sale in February, formerly housed both manufacturers and stores, including a cabinet contractor, a dollar store, and a chemical manufacturer. For now, however, the buildings will undergo a facelift in preparation for their new tenants.
"Once the contract is finalized, the buildings will be rehabbed," said Jeffrey Laird, president of Laird & Co., "When that is done, a number of new small commercial manufacturers will move into the space."
Also pending is the sale of a nearby vacant lot at 4034 N. Hermitage Ave., just a block east of the buildings. The lot is quite large at 61 by 165 feet, and although it was originally intended for residential use, it has not yet been determined what will go on the property.
"The lot is being sold along with the buildings on Ravenswood." said Mr. Laird. "Once everything is finalized, it will be up to the owner as to what to build on the lot." |
