Jones Lang LaSalle (“JLL”), has been retained on an exclusive basis by Knickpoint Ventures (“Knickpoint”, or the “Sponsor”), to present an investment opportunity for the recapitalization and future development of The Fields (the “Project”) – one of the nation's leading premier adaptive reuse developments. This unique mixed-use campus redevelopment will feature The Fields Studios, the first, purpose-built studio and entertainment production space in Chicago.
Upon completion this project will be anchored by:
› 7 Sound Stages totaling 134,000 SF
› 149,500 SF of Production/Entertainment Support Space
› 400,795 SF Creative Loft Office and Retail Space
› 123 Residential Apartments
› 700+ Indoor, Heated Parking Spaces
To facilitate the redevelopment of The Fields, the Sponsor is seeking a joint venture partner to invest in the $191MM project. The niche, but rapidly growing, creative content real estate market enjoys many significant tailwinds, limited supply of functional real estate, and large credit-worthy occupiers which has attracted brand name capital to the space. These industry dynamics, coupled with an already successful mixed use campus, suggests that out-sized development returns can be achieved at The Fields.
- Outsized Return Metrics
- Unique Mixed-Use Campus Style Offering With Diversity of Income
- First-Mover Competitive Advantage: Purpose-Built Studios in Chicago
- Illinois Tax Incentive Program Ensures Success of Chicago As A Studio Market
- Burgeoning Asset Class With Strong Secular Tailwinds
- Future Upside Via Consolidation of Ownership
- Experienced Operating Partner With Extensive Track Record & Well-Rounded Development Team