18,240 Square Feet of Office Space
Located at:
501 West State Street
Geneva, Illinois 60134...Representative Case Studies
1801 W. Foster (Chicago, IL)
Property
80,000 sf industrial/office on 1.5 acres
Service Provided
- Zoning, Development and Architectural Consulting
- Disposition Services
Challenge
Conduct an extensive analysis, along three simultaneous paths, and determine the benefits of selling the property outright as a re-development opportunity, joint-venturing the property with a developer, and/or developing the property internally.
Opportunity
Present a unique chance to acquire/re-develop one of the largest sites available in a burgeoning submarket of Chicago’s north side.
Success
Procured a strong development company that understood the inherent
value of our offering. Successfully negotiated a deal that provided an immediate closing without any zoning contingencies, which eliminated a protracted period of uncertainty for our client. The sales price exceeded all initial expectations.
Principals of Foresite Realty Partners worked hand-in-hand with the owner of the property over a period of three years. We exhausted all potential opportunities and scenarios for the future of the site. This included: