Chicago, IL
CBRE Arranges Sale of River North Development Site in Chicago
October 27, 2022
Media Contact
Corporate Communications, Midwest
CBRE has arranged the sale of a 14,378 square foot development site located at 863 N Orleans St., also known as 330 W Chestnut, in the River North neighborhood of Chicago. BlitzLake sold the property to Draper and Kramer in a transaction that closed October 6, 2022. The land sold for $4,180,000.
CBRE’s Tom Svoboda, represented the seller, BlitzLake, in the transaction.
863 N Orleans is a transit-oriented development site in a burgeoning part of the River North neighborhood. The site is adjacent to JDL’s mega North Union development, and numerous projects along Chicago Ave. Draper and Kramer is working on plans for a multifamily development on the site.
“This entire north River North area is being transformed into a true mixed-use environment, creating better connectivity to the popular surrounding neighborhoods like Old Town and the Gold Coast,” said Svoboda.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.