Baum Realty Group recently signed KDM Engineering to a 35,000-square-foot lease to anchor 1308 N. Elston in Chicago. The redevelopment is a joint venture between Farpoint Development and Greco/DeRosa Investment Group.
Baum’s Ari Topper and Tyler Dechter brokered the deal on behalf of ownership. KDM—a certified MBE with the National Minority Supplier Development Council and WBE with the Women’s Business Enterprise National Council—sought space that allows for growth and provides a healthy and diverse work environment. The firm will move its headquarters from 35 E. Wacker Drive when the lease commences in the spring of 2021.
“1308 gives us a chance to expand our physical footprint in a smaller, less crowded area of the city,” said KDM founder and president, Kimberly Moore. “The building also gives employees plenty of options to manage and change their workday environment and provides excellent visibility for our brand. As a bonus, the ownership team was very welcoming to women-owned businesses.”
Formerly a light fixture factory, the 100-year-old building is a classic brick and timber loft offering 71,000 square feet of newly renovated Class A office space. It features a private landscaped courtyard, on-site parking, 12- to 14-foot ceiling heights, exposed timbers and a standalone amenity building. Located in the burgeoning Salt District between the former Morton Salt headquarters and along I-90 near the Division Street exit, 1308 N. Elston is best known for its massive customizable exterior wall that fronts the expressway.
“This lease is a testament to the attractive environment Farpoint has created at the property. The design and aesthetics of the building are incredibly appealing to today’s office users and its characteristics resonate even more so in the age of COVID,” said Topper. “And the location is outstanding. To have a boutique, Class A office building away from the congestion of downtown yet centrally located is extremely rare.”
“We are pleased to welcome KDM to the building,” said Regina Stilp, a principal at Farpoint. “It’s terrific recognition of the work we have done to create an atmosphere that today’s discerning tenants want.”
Baum Realty recently closed on several other transactions in Chicago’s North Branch neighborhood including the sale of the former Star Car Wash property for $3.66 million and the full lease up of 1525 W. Homer Street.