David Lukes Of Curbline Properties Corp Acquires 2070 North Clybourn Avenue In Chicago For $18M

The retail property located at 2070 North Clybourn Avenue in Chicago, IL, has been sold for $18,000,000. The shopping center was previously owned by David Ruttenberg of Belgravia Group for 20 years before the sale, which was at a higher price compared to his original purchase price of $15,000,000.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $18,000,000
• Buyer: David Lukes - Curbline Properties Corp
• Seller: David Ruttenberg - Belgravia Group
• Market: Chicago, IL
• Address: 2070 North Clybourn Avenue

David Ruttenberg sold the property following challenges in retail leasing due to setbacks at the adjacent megadevelopment, Lincoln Yards, which has affected the surrounding area's commercial viability. The transaction closes a significant chapter in Ruttenberg's investment journey, allowing him to divest from an area that is now transitioning with the emergence of the Foundry Park project.