Structured Development has signed leases with Petsmart and Buy Buy Baby to occupy 45,000 square feet at 1415 N. Kingsbury St. on Chicago’s north side. The 2.3-acre retail center just south of North Avenue and one block west of Halsted Street will also offer an 8,500-square-foot retail space for lease. The development will break ground in early 2012.
The remaining end cap is ideal for complementary uses that would benefit from the demographics of the Buy Buy and Petsmart shopper as well as the 700 parents of the British School students located directly across the street. Those tenants include fashion, sporting attire and fast casual dining.
Structured remains active in the Halsted Triangle neighborhood and is a leader in the Halsted Triangle Owners Association, which is committed to advancing the development and interests of the entire area.
Structured advanced the development of the site after its partner, Commonfund of Wilton, Conn., withdrew from the LLC. Structured paid off the existing PNC loan through a refinancing provided by The Private Bank in the amount of $14 million.
Structured Development was formed in January 2002 to pursue real estate development opportunities. Leveraging its vast experience in the real estate market, Structured Development engages in complex real estate transactions, which include large mixed-use centers, urban infill, and historic renovation projects.
