Clybourn Center trades, positioned to benefit from $1B+ Foundry Park redevelopment

CHICAGO, July 1, 2026 –  JLL Capital Markets announced today that it has secured the sale of Clybourn Center, a 33,140-square-foot unanchored strip center strategically located in Chicago's highly desirable Lincoln Park neighborhood.

JLL represented the seller. The buyer was Curbline Properties.

Clybourn Center is strategically positioned at 2029-2073 N. Clybourn Ave., across from Foundry Park, a transformational $1 billion-plus mixed-use redevelopment project. When complete, Foundry Park will deliver approximately 3,700 residential units, 350,000 square feet of office space, 420,000 square feet of retail, 250,000 square feet of hospitality and 12 acres of open space. The property sits less than five miles from downtown Chicago with convenient access to Interstate 90/94, attracting daily traffic counts exceeding 10,600 vehicles per day on Clybourn Avenue.

The 91.2% occupied property features 86 surface-level parking spaces, which is a rare amenity for street-front retail in this dense urban corridor. Clybourn Center's tenant mix is anchored by medical and wellness uses, with 38% of the gross leasable area occupied by medical tenants including Physicians Immediate Care, Premier Allergy and Metro Infusion. The center serves a highly affluent trade area with a population of 56,696 and an average household income of $235,061 within one mile.

"Clybourn Center represented a compelling value-add opportunity in one of Chicago's most sought-after neighborhoods," Nieder said. "The property's direct adjacency to the Foundry Park mega-development, combined with its resilient medical-anchored tenant base and rare surface parking, created significant interest from buyers seeking long-term growth potential in a premium Lincoln Park location."

The property demonstrated significant leasing momentum heading into the sale, with three new leases executed in 2025 totaling approximately 20% of the center's gross leasable area.

JLL Capital Market’s Investment and Sales Advisory team was led by Managing Director Michael Nieder and Director Brian Page. Leasing efforts at the center have been spearheaded by Steve Schwartz and his team. 

"With Lincoln Park's top-tier demographics, the property is well-positioned as the Clybourn corridor continues to evolve," added Page.

“JLL took on the leasing of Clybourn Center in 2009, successfully navigating dramatic changes in retailers’ space requirements, shifting market trends and waves of development across Chicago neighborhoods that influenced tenant expansion strategies,” commented Schwartz. “This asset has weathered economic recessions and a global pandemic, yet our success in attracting and retaining tenants has remained remarkably consistent. Maintaining that stability through periods of unprecedented change is an accomplishment unique to this asset.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Curbline Properties is a shopping center real estate investment trust focused exclusively on convenience real estate. The company's portfolio is strategically located at well-trafficked intersections in affluent suburban communities across the United States.