Cobbler Square Old Town Update 11/04/24

Pending Purchase of Mixed-Use in Old Town

 

Local investor John Schreiber is teaming up with JDL Development to purchase Cobbler Square Lofts, a 292-unit loft apartment complex located at 1350 N. Wells in Old Town. The five-story complex features 19,000 square feet of retail space and is currently 94% occupied. Listed by JLL, the property is marketed for potential renovation, including a proposed five-story, 26-unit expansion above an existing 177-space parking garage. This transaction marks the first time the former shoe factory, built in 1889 and previously owned by the late billionaire Sam Zell, has changed hands since the 1980s. The purchase price is estimated to be around $90 million.

Cobbler Square

Photo credit: Cobbler Square Lofts (website) 

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