4K Diversey Partners, LLC, has entered into a contract to purchase the 1.4-million-square-foot, 21-acre former Marshall Field’s warehouse campus at 4000 W. Diversey Ave. on the northwest side of Chicago.
The seller is Macy’s Inc., which has owned the property since 2005, when it acquired Marshall Field & Company. The property was vacated by Macy’s in 2008.
Since 1928, the project has been owner-occupied by only three companies – the Olson Rug Company, Marshall Field & Company, and Macy’s Inc.
“We are looking forward to delivering high-quality space in an exceptionally accessible city location,” said Aaron Paris, who, along with his 4K partners, will work with the city of Chicago to best position the campus for future growth.
Occupancy is scheduled for January of 2014.
The acquisition is scheduled to close in December, at which time Op2mize real estate advisors will provide leasing and property management services.
