The Colliers International Chicago-based Office Advisory Group announced that Christopher Cummins, senior vice president; Jonathon Connor, associate; and Dougal Jeppe, senior vice president, have been retained by Cleveland-based Fairmount Properties LLC to market and lease an up to 92,000-square-feet Class A office portion of a new mixed-use project called “The Pointe”. This roughly 200,000-square-foot development will be located on the site of the former Purple Hotel at the corner of Touhy and Lincoln Avenues in Lincolnwood, Illinois.
Behind a strong development team led by Fairmount Properties — successful developers of millions of square feet of mixed use including the award winning $750-plus million Flats East Bank district in Cleveland — and committed capital investors North Capital Group, this $125-plus million project is a unique “shop-dine-work-play” pedestrian-scaled district that will serve as Lincolnwood’s new downtown and an exciting new district for a much broader trade area.
The Pointe is strategically located directly between Chicago and the North Shore. Just moments away from the Edens Expressway, The Pointe is positioned to become a local hub and regional destination for retail, dining, entertainment, and business. A 160-room SpringHill Suites Hotel by Marriott will enhance the overall environment. The Pointe will feature a year round schedule of activities, events and performances appealing to all age groups.
The Class A office portion of the project will include up to 92,000 square feet of second floor space.
With over 60,000 square feet of committed retail and restaurant users, the development has already attracted the interest of major retail and restaurant tenants, including local, regional and national players. The Pointe was showcased at the national ICSC retail leasing convention in late May and continues to exceed expectations, with another 100,000+ square feet of ground floor tenants expressing interest. Fairmount Properties’ in house leasing team and KB Real Estate, Inc. are leasing the retail portion of the project.
Anticipated completion for the development is fourth quarter of 2016.
