Ground Breaks on New City Project in Chicago

by Nate Hunter

Chicago — The mixed-use development will include 360,000 square feet of retail when construction is complete in fall 2015.

Chicago — Bucksbaum Retail Properties LLC, Structured Development LLC and institutional investors advised by J.P. Morgan Asset Management have begun construction on New City, a 500,000-square-foot mixed-use project in Chicago. The development team received a $182 million construction loan to build New City. The development will be located on 8.5 acres at the intersection of Clybourn and Halsted streets in the city’s Clybourn Corridor. The project will feature 360,000 square feet of retail and a 200-unit, 16-story residential tower when it is complete in fall 2015.

Mariano’s Fresh Market and Dick’s Sporting Goods will anchor the retail component of the project. The Mariano’s store at New City will be the grocer’s largest one in Chicago. The project will also feature new-to-market retailers ArcLight Cinemas, Earls Kitchen + Bar and Kings Bowl.

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