Stocking Urban, LLC Announces Acquisition and New Lease Executions for 4510 N. Ravenswood in Chicago, Illinois
CHICAGO, IL– SUGR RH Ravenswood LLC (A joint venture partnership between Stocking Urban, LLC, Rene Hertsberg, and Gregory Robbins) is announcing the acquisition of the approximately 14,000 square foot flex industrial building at 4510 N. Ravenswood Avenue in Chicago, IL. The single-story building was fully renovated between 2004-2006, and sits on approximately 19,500 square feet of land with dedicated parking. The CTA Montrose Brown Line stop along with the Ravenswood Metra stop are both within a two-block walk. The neighborhoods of North Center, Lincoln Square, Roscoe Village, Lakeview, and Andersonville are all adjacent to the building. The seller of the building was All-Rob, LLC. Financing was provided by Lakeside Bank.
“The Ravenswood Corridor has all the fundamentals you look for when buying real estate in Chicago. Great building stock, a diverse employment base, and strong transportation links. The surrounding neighborhoods are affluent, educated, and growing. With the many challenges facing developers of real estate in Chicago, the Ravenswood Corridor offers the most compelling story for long term rent growth.”- Nicholas Stocking, Stocking Urban.
The partnership is also announcing the execution of two leases for the building. The first tenant will be Feast Fitness + Nutrition, a new CrossFit gym with a unique focus on providing nutrition coaching as part of its core membership program. Feast Fitness will occupy 7,000 square feet of the building upon opening in late May, 2019. The gym is a start-up venture which includes the members of the partnership and a staff with deep experience in fitness and nutrition coaching.
“We have designed fitness and nutrition programming that will support our community’s lifelong health and happiness in an incredible facility. Because community is integral to what we do, being in the Ravenswood Corridor was a huge draw for us. We simply could not find another location that offered proximity to so many family neighborhoods, amazing public transit options, ample parking, and locally owned businesses. We’re already experiencing a warm neighborhood reception, and look forward to growing and supporting our membership base here."- Greg Robbins, Feast Fitness.
The second tenant at the building will be Products on White Photography LLC (“POW!”). POW! specializes in e-commerce product photography for e-commerce sellers. “If you think about Amazon, someone needs to photography those millions of product photos and that’s what we do. Businesses of all size can order online and send us your products,” says Jeff Delacruz, President. POW! Photography is relocating from a building within the Ravenswood Corridor, and will occupy approximately 7,000 square feet of the building, doubling their operation. For the lease transaction, SUGR RH Ravenswood was represented by RN Realty. POW! was represented by Vestian, Inc.
“Ravenswood Ave is a rare vein of flex space that runs down the middle of a beautiful single family neighborhood. This drives a unique set of businesses to the area like consumer-focused startups from Feast Fitness to businesses like POW! that requires a large mixed use space to operate. It’s an exciting time to be in the area and we love it here.” – Jeff Delacruz, POW! President
About Stocking Urban, LLC
Stocking Urban, LLC is wholly owned by Nicholas Stocking. Nicholas is a designer and developer with a passion for building in dynamic neighborhoods. Nicholas has over 20 years of design and development experience, both with Stocking Urban and as a partner with Centrum Properties, Inc. He has led the acquisition and development of large-scale urban infill projects, from concept to launch to completion. Current and past projects include Basecamp SFH, a 48-unit new construction single family home development in Old Irving Park; WerkHaus, a 45,000 square foot loft office redevelopment in Lincoln Park; 3571 W. Armitage, an 11,000 square foot project in Logan Square; 1749 W. Chicago, the redevelopment of an orange rated building in West Town, delivering 5 units over a live/work gallery space; and 838-846 W. Altgeld, 12 residential rentals being redeveloped in Lincoln Park. Nicholas holds design certificates from Archeworks and Rhode Island School of Design, along with a BBA from UW- Madison. This passion and deep experience in design and development gives Nicholas a unique advantage when envisioning new uses for Chicago real estate.