South Bay Partners has purchased a 13-acre site at 3400 W. Pratt Avenue in Lincolnwood for more than $6 million, with plans to develop an assisted living, memory care and senior living facility.
Steven Kohn, SIOR, senior vice president with Colliers International | Chicago’s Industrial Advisory Group, represented CenterPoint Properties in the sale.
“This site represents one of the last remaining large blocks of land in the North suburbs,” said Kohn. “The Village of Lincolnwood has been in favor of redevelopment to a seniors housing/assisted living use, and the location and site size are ideal,” he added.
The site features 942 feet of frontage on Pratt Avenue and is located just two miles from the I-94 and Touhy Avenue interchange.
Bell and Howell relocated its headquarters to this Lincolnwood site in 1942 and began to sell of portions of it in the 1980s. The company now has its US headquarters in Durham, NC but maintains Chicago-area offices in Skokie and Wheeling.