March 13, 2019 Comments Off on B+E Lists Climbing Gym in Lincoln Park Views: 402 Chicago News, North Side

B+E Lists Climbing Gym in Lincoln Park

Net lease trading platform B+E has listed for sale a Planet Granite climbing gym to be located in the North Side’s Lincoln Park. The 41,500-square-foot property at 1450 N. Dayton S. is listed for $21.9 million.

“Lincoln Park is one of the most desirable Chicago neighborhoods,” said Tim Hain of B+E. “In addition to significant existing buildings, several multifamily, retail, mixed use and office developments are either under construction/planned or have recently been completed in the area surrounding the property. A large nearby future development, Lincoln Yards, will bring a significant population increase over the next five to 10 years.”

Construction on the new Planet Granite is expected to be completed in August 2020. It has a 15-year triple-net lease currently on the market for a 5.5% cap rate, which requires no landlord responsibility and provides the buyer with long-term investment stability, according to B+E.

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