In 2012, we identified a 60,000-square-foot bow-truss warehouse on Balmoral Avenue with significant potential for adaptive reuse. The historic industrial building was being sold by its owner-user, presenting an opportunity to bring new life to a substantial piece of Lincoln Square's industrial heritage.
We entered into a purchase contract with plans to renovate the property for a mix of warehouse, retail, and office uses. Over the next two years, we worked through multiple contract extensions while conducting thorough due diligence, refining design concepts, and pursuing potential tenants who could activate the space in meaningful ways.
Our leasing efforts attracted interest from Half Acre Brewery, a Chicago craft brewery that had outgrown its original Lincoln Avenue location and was seeking space for a major production expansion. The bow-truss warehouse—with its soaring ceilings, industrial character, and substantial square footage—was ideal for their vision of a flagship brewery with taproom and beer garden.
Rather than proceed with our original acquisition and renovation plan, we recognized that Half Acre was the perfect steward for this building. We structured an assignment of our purchase contract, including short-term financing to facilitate their acquisition. This approach allowed Half Acre to take ownership directly while compensating us for the due diligence and contract negotiation work we had completed.
Today, the building serves as Half Acre's largest production facility, complete with a popular taproom and outdoor beer garden that has become a neighborhood gathering place. The project demonstrates how flexibility and creative deal structuring can yield exceptional outcomes—both for investors and for the community.
