Sealed Bid Process Details: Sealed Bid Due Date: Bids are Due on or Before February 24, 2025 at 5 pm CST Sealed Bid Process: Bids Should be Submitted to Diana Peterson via Email at dianap@awproperties.com along with Proof of Funds; Submitting Your Offer Prior to the Sealed Bid Due Date is Highly Encouraged! **If an Acceptable Offer is Received Prior to the Sealed Bid Date, Seller Reserves the Right to Accept it and Move Forward to Closing.** Closing Date: On or Before March 31, 2025 Buyer Broker Co-Op Fee: Buyer Shall Pay their Broker (if Any) at Closing; Seller is Not Offering a Buyer Broker Co-Op Fee Portfolio Details: Lot Size: Approx. 40,102 SF Existing Building Size Total: Approx. 52,932 SF Current Zoning: M2-3 Potential Zoning: DX-5 or DX-7 Real Estate Taxes 2023: $315,607 Ward/Alderman: 27th/Alderman Walter Burnett Property Description: AW Properties Global is pleased to present the Kinzie Building Company portfolio, an opportunity to acquire a prime assemblage in Chicago’s highly sought-after Fulton Market District. This portfolio consists of three existing buildings totaling approximately 52,932 sf plus a parking lot located at: 1044-48 W. Kinzie is approx. 26,244 sf 410 N. Carpenter is approx. 12,588 sf 415 N. Aberdeen is approx. 14,100 sf 412-18 N. Carpenter – parking lot Situated on an approximately 40,102 sf parcel (0.92 acres), the property is currently zoned M2-3 / Permitted Light Industrial – Manufacturing, Warehousing, Wholesale and Industrial. However, its strategic location and scale o potential rezoning to DX-5 or DX-7 which would allow for Residential, Mixed-Use, Office, Hotel and Retail uses. Current Leasing Synopsis: The Portfolio is currently approximately 43.5% occupied. There are five tenants. Leases expire 4/30/25; 10/3/25; 6/30/27; 9/30/28; and 2/28/29. Gross rents, CAM and RET reimbursement for January, 2025 was approximately $58k. Potential Favorable Zoning Considerations: Although the property is currently zoned M2-3 / Permitted Light Industrial – Manufacturing, Warehousing, Wholesale and Industrial Uses there are a number of favorable zoning considerations that may be available to a developer if rezoned to multifamily, mixed-use, office, hotel or retail use including: TOD Designation: Reduced parking, increased height and more units. ARO Tax Incentive: HB2621 Affordable Housing Tax Incentive – the property qualifies for Tier #3; See link to information on ARO – https://housingactionil.org/blog/2023/12/19/new-state-law-creates-propertytax-incentive-to-create-and-preserve-affordable-rental-homes/. Enterprise Zone: Zone 4. Purpose is to stimulate economic growth & neighborhood revitalization by offering certain state and local tax incentive to companies expanding or relocating to these areas. Expansion Area: West. One building (1046 W Kinzie) is in the expansion area which allows developers to buy bonus FAR from the City at a predetermined cost to achieve additional density. Funds received by the City are then reinvested into the Neighborhood Opportunity Fund and reinvested back into Chicago communities. Why Invest in Fulton Market? Fulton Market, located in Chicago’s Near West Side, is one of the city’s most dynamic and rapidly evolving neighborhoods. Once an industrial hub, this vibrant district has transformed into a premier live-work-play destination, attracting urban dwellers, innovative businesses, and visionary developers. Bounded by Grand Avenue to the north, Washington Street to the south, Halsted Street to the east, and Ogden Avenue to the west, Fulton Market serves as an extension of the Loop and West Loop. Its blend of historic charm and modern redevelopment has made it a hotspot for residential, office, mixed-use, retail, and hospitality growth. The neighborhood’s strategic location provides unparalleled connectivity. It is easily accessible via major thoroughfares, CTA bus lines, and multiple “L” train stations, including the Morgan and Ashland stops on the Green and Pink Lines. Additionally, nearby Metra commuter rail stations enhance regional access, while proposed infrastructure projects like the West Town Metra station promise to further boost connectivity and growth potential. Once dominated by industrial warehouses, Fulton Market now features a cutting-edge mix of office, retail, mixed-use, and multifamily developments. Global leaders like Google and McDonald’s have set up operations here, drawn by the area’s unique energy and potential. With ongoing infrastructure improvements and a thriving cultural scene, Fulton Market continues to attract significant investment and interest. As Chicago’s fastest-growing submarket for office buildings, Fulton Market injects new vitality into the city’s Central Business District. The neighborhood accounts for 5.1% of the downtown office market, offering over 7.3 million square feet of redeveloped real estate, including office, retail, hotel, and residential properties. Groundbreaking projects like 919 W. Fulton, which will add 409,000 square feet of Class A office space, further reinforce Fulton Market’s reputation as a hub for innovation, growth, and investment within Chicago’s broader real estate landscape.