August 28, 2019
Cawley Chicago has been hired to sell two adjacent development site in the South Loop. Located at 2240 and 2302-32 S. Wabash Ave., the sites are situated in both a prime Opportunity Zone and the 24th /Michigan Tax Increment Financing (TIF) District.
The portfolio consists of two independent adjacent land sites approximately one acre each, totaling 88,905 square feet providing capabilities for large-scale development.
A Cawley team of Frank Melchert, Zach Pruitt and Stevan Arandjelovic is representing the owner.
“Location is a prime attraction for this site,” said Melchert. “It is two blocks from McCormick Square and Wintrust Arena, and with its proximity to the McCormick-Cermak CTA Station is TOD eligible.
“It also sits within the 24th /Michigan TIF District, is centrally located to the South Loop’s four major mega-developments and lies within one of the most advantageous Opportunity Zones in the city of Chicago,” he added.
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