BlitzLake purchased the assemblage of three parcels of land on the northwest corner of Clark St. and Belmont Ave. in July 2013 and broke ground in August 2015 following a rezone of the entire property. Ideally located one block from the Belmont ‘L’ Station, the property was vastly underutilized in its previous state and was acquired in order to take advantage of the dense and transit-oriented Belmont corridor.
Recently completed, this eight story mixed-use building features 29,000 square feet of retail space along with a 40-car parking garage on the first two floors, which will be anchored by Target Corporation. Floors three through eight consist of 90 rental apartment units, which are currently available for lease, and a 5,500 square foot office space.
BlitzLake purchased the 22,000 square foot building in April 2013 to take advantage of its exceptional retail space potential. Following a complete gut-rehab, the building was converted to commercial use and leased up in April 2013, with full renovations completed in May 2014. The energy and vibrancy of the Clark and Belmont intersection make this a high traffic pedestrian, vehicle and public transportation route for the 100,000 people who live within a one-mile radius of the building.
The building contains two floors with 14-foot ceilings and a full basement. The Annoyance Theatre occupies the second floor and basement, while Lakeview Smiles Dental Clinic and I Dream of Falafel Mediterranean Restaurant occupy the ground floor.
BlitzLake purchased the building located at 2448 N. Lincoln Ave. in December 2014. It contains approximately 8,000 square feet of retail on the first floor and five two- and three-bedroom apartment units, as well as a full sundeck, on the second floor. Situated in a prime location for a transit-oriented development, the building is one block north of the Fullerton/Halsted/Lincoln intersection and situated less than a quarter mile from the Fullerton ‘L’ Station. Combined with 2462 N Lincoln Ave., the new 2448 N Lincoln building (shown to the left in the above rendering) will contain a total of 22 residential units above 5,100 sf of retail and 6 parking spaces. Completion is slated for 3Q 2018.
BlitzLake purchased the building located at 66 Orland Square Dr. in December 2014. It contains 166,000 square feet of retail space and is located off of 151st St., two blocks east of La Grange Rd., which is the main artery of Orland Park. The project is situated on the ring road surrounding Orland Square Mall, the largest shopping center in Chicago’s south suburbs. Noted for its high visibility and excellent traffic counts, the building was vastly underutilized in its previous state with a 57% vacancy.
BlitzLake completed the lease up of the property in July 2016, with Charter Fitness occupying 18,000 square feet, Gizmos Fun Factory occupying 37,000 square feet, and Sky Zone Trampoline Park occupying 28,000 square feet. The final tenant, Carson Pirie Scott Furniture Gallery, has occupied the southernmost 72,000 square feet since before BlitzLake’s acquisition.
BlitzLake purchased the building located at 2462 N. Lincoln Ave. in August 2015. It contains a 3,000 square foot retail space on the first floor that previously housed the sports bar Hi-Tops. A single apartment unit and full sundeck occupies the second floor and a partial third floor. The building is located across the street from the BlitzLake-owned property at 2448 N. Lincoln Ave., and less than a quarter mile from the Fullerton ‘L’ Station. Combined with 2448 N Lincoln Ave., the new 2462 N Lincoln building (shown to the right in the above rendering) will contain a total of 9 residential units above 1,200 sf of retail and 2 parking spaces. Completion is slated for 3Q 2018.
BlitzLake purchased the historic Flair House located at 214 W. Erie St. in August 2015. This iconic building was built in 1883 and extensively renovated and expanded in the 1970s. It is a 7,000 square foot structure featuring a four-story spiral staircase, a large rooftop deck, and a three-car garage. Extensive renovation has been done to the second floor Parlor room, which serves as a common meeting area for BlitzLake Partners. The Flair House serves as the headquarters and permanent office for all of BlitzLake’s operations, with state of the art amenities throughout the building and a fully furnished conference room located on the third floor.
BlitzLake purchased the vacant land located at 863 N. Orleans St. in August 2015. The property, which is situated on the northeast corner of Orleans St. and Chestnut St., consists of approximately 14,400 square feet of vacant land. Given the close proximity to I-94, the Chicago Ave. “L” stop, and 6 bustling neighborhoods of Chicago, BlitzLake felt the land was hugely underutilized in its current state. In order to continue to add value to the growing community, and given all the residential developments nearby, BlitzLake felt that the best use of the land would be an office building. The property is currently fully zoned and entitled for a 6-story office building (shown above), and construction could begin as early as 3Q 2017.
BlitzLake began redeveloping the building located at 648 N. Clark St. in 2014. Originally constructed in the late 1800s, the building has gone through multiple iterations of construction and has been the site of a car repair shop, an SRO, and most recently a men’s clothing store, which closed down in the 1980s. BlitzLake recognized the building’s street visibility and dense residential surrounding in the vibrant River North neighborhood and determined that it would be a prime location for their innovative new fitness concept, Studio Three.
The redevelopment of the building included demolition of existing improvements, complete restructuring of the building, and digging down of the basement floor to allow for the higher ceilings required by a fitness studio. BlitzLake completed construction in October 2015 and the final product is a completely built out 16,000 square foot boutique fitness facility, which houses Studio Three fitness on the lower level, first, and second floors. The third and fourth floors are occupied by Snapchat corporate offices.
BlitzLake purchased the 61,000 square foot vacant land located at 4945 Dempster St. in Skokie in October 2016. With the goal of continuing to gentrify the Dempster corridor, BlitzLake executed a lease with Target Corporation to open one of their flexible-format stores on the property, which will consist of a 33,000 square foot single story structure and 80 surface parking spaces. The property is located directly east of the Skokie Swift yellow line train station, which coupled with the CTA bus station at this location, services approximately one million riders per year. Project should be completed in 2Q of 2017.