With ambitions to be a part of a growing commercial corridor at Six Corners in Portage Park, Condor Partners, a firm founded by former Centrum partner Sol Barket, recently purchased a string of eight storefronts along Milwaukee Avenue for $1.75 million, according to DNAinfo. Split between properties at 4047-55 North Milwaukee Avenue and 4029-37 North Milwaukee Avenue, this pickup of 50,000 square feet of commercial space (30,000 feet on grade) represent a play for a neighborhood on the cusp, according to Barket, one poised to develop a downtown district and attract families.
"The unique part about Portage Park is that it's never really been a neighborhood on the decline," he says. "This community has kept its housing stock in great shape."
Condor's purchase follows a string of recent openings and announcements, from Clark Developments' plans to redevelop the Bank of America lot at the center of the neighborhood to the opening of businesses such as Community Tavern.
Barket's partner Michael McLean believes the neighborhood could become the next Lincoln Square, pointing out the proximity to the suburbs and downtown. He places Portage Park in a outer ring of Chicago neighborhoods, such as Pilsen and Andersonville, poised to be centers for development going forward.
·Boarded-Up Six Corners Shopping District Could Soon Be Reborn [DNAinfo]
·Previous Portage Park coverage [Curbed Chicago]