Sterling Bay, Chicago’s leading real estate development firm, is pleased to announce its successful closing on the purchase of 4510 W. Ann Lurie Place, a 7.5-acre land parcel in Chicago’s Archer Heights. The firm plans to develop a 147,500-square-foot industrial facility on site to meet the city’s increasing demand for modern industrial product. The acquisition was made in partnership with Affinius Capital, with a construction loan from First National Bank of Omaha.
This project further solidifies the company’s commitment to expanding its portfolio into new vertical outside of creative office, including industrial, life sciences and residential.
The development at 4510 W. Ann Lurie Place will be constructed by PREMIER Design + Build Group, featuring 10 loading bays, two drive-in doors, and 101 vehicles parking spaces. Notably, the LEED Silver certified facility will support sustainable operations, with EV charging stations to promote eco-friendly transit, upgraded steel components for future solar panel integration, and native landscaping to enhance the exterior environment.
4510 W. Ann Lurie Place is set to break ground later this year, creating upwards of 35 full-time jobs once fully occupied.
As part of its commitment to engaging local minority and women-owned businesses across its portfolio, Sterling Bay has committed to adhere to the city of Chicago’s MWBE Program at 4510 W. Ann Lurie Place, which sets goals for MWBE participation at 26% and 6%, respectively.
