Bradford Allen announced that Senior Managing Director Ben Azulay and Director Justin Kessler have completed the 25,810 square foot building sale of 2515 S. Wabash in Chicago. The sale is valued at $1,250,000.
Azulay and Kessler represented both the property buyer, Blue Star Properties and the lessee, Baderbrau Brewing. The property is located immediately off of I-55 in close proximity to McCormick Place and downtown. The South Loop property is situated a few blocks south of the soon-to-open Cermak station on the Green Line and features a bow truss ceiling, two drive-in doors as well as an old water tower visible in either direction on I-55.
Baderbrau Brewing has leased the entire property on a long-term lease and plan to open the brewery along with a 4,000 square foot taproom later this year. Homebrewer Rob Sama revived Baderbrau in 2012, bringing back the original Chicago Pilsener popular in the 1990s, and has since created seasonal varietals such as Red Velvet, Oktoberfest, Lawnmower Lager and Naked Selfie, a Black India Pale Lager.
“We surveyed several neighborhoods outlining downtown, as it was important for Baderbrau to have a Chicago address,” Kessler said. “2515 S. Wabash was ultimately selected due to the building’s size and layout being ideal for Baderbrau’s vision, as well as the proximity to McCormick Place and the redevelopment of Motor Row. However, with the building only for sale we had to bring in a developer to purchase the building and felt straight away that Blue Star was the right group for this project – it turned out to be a win/win for everyone.”
“The Bradford Allen team was fantastic to work with. Ben and Justin understood our requirements and worked tirelessly to find us a property that fit the bill for a brewery in terms of size, location as well as type of building,” said Sama. “Not only did they find us a great property, but they also found a buyer for the property, which was necessary to get the deal done.”
The brewery is projected to open late Summer 2015.
