CHICAGO, IL – June 24, 2020 – Stream Realty Partners (Stream), a national real estate services, development, and investment company, and Baum Realty Group is pleased to announce the leasing of The Fields, a 23 acre, 1.5 million-square-foot campus that was the former Marshall Field’s warehouse and built by the Olson Rug Company a century ago. The project is owned by Knickpoint Ventures, a commercial real estate investment and development company that owns property in Chicago, New York and Miami. Located at 4000 West Diversey Avenue in the hip West Logan Square neighborhood, The Fields is currently undergoing a multi-million-dollar renovation aimed for completion in fourth quarter 2020.
“Stream is thrilled to partner with Knickpoint Ventures to continue the successful transformation of this historic asset into an integrated, multi-functional creative ecosystem built upon a robust and flexible infrastructure,” said Adam Showalter, Managing Director of Stream’s Chicago office. “Knickpoint’s vision for the property provides ultimate flexibility for all users of space.”
The Fields features historic elements of exposed brick and concrete columns with 100,000 square foot floorplates the size of city blocks, soaring ceilings and windows in excess of 15 feet tall. This is paired with robust and modern infrastructure wedded to a state-of-the-art technology that recently was rated Wired Score Platinum, the highest designation for a collaborative and experiential work environment. Located in a mixed-use campus with 123 loft apartments and a 70,000 square foot supermarket, the office building has exceptional parking located within the building with 2.5/1,000 parking ratio and is surrounded by market-leading amenities, such as a fitness center, yoga studio, locker room with showers, 50,000 square feet of rooftop space, multiple food and beverage options and maker spaces. In addition, the property is supported by client services staff, as well as a 3.5-acre interior truck court with fully operational weigh station for tractor trailers. With easy access to train stations and public transportation, including a building shuttle, the area is a vibrant convergence of neighborhoods with exterior signage opportunities available.
“Knickpoint is proud to usher in a new era for The Fields in partnership with Stream. In making the decision to effectively market this ‘blank slate’ opportunity to a wide variety of potential users, we wanted a nimble and flexible group that could effectively canvass the entire Chicagoland market. Beyond office leasing, Stream has additionally brought to bear significant corporate resources from other internal business lines, including data center leasing, parking management, digital marketing and data analytics,” said Zain Koita, Managing Partner of Knickpoint Ventures.
Showalter, along with Patrick Russo and Jessica O’Hara of Stream’s Chicago office, and Ari Topper and Tyler Dechter of Baum Realty Group will lead the leasing of the property.