EDGEWATER — A nonprofit social services group is moving out of its Edgewater offices and is trying to sell the building.
Community Counseling Centers of Chicago, also known as C4, has listed its offices at 5710 N. Broadway. The nonprofit organization’s leaders want to sell the three-story brick building for $3.5 million, said broker Brenton Schrader of HSA Commercial Real Estate.
C4 will consolidate into its Uptown offices at 4470 N. Clark St. and will look to cash out of the Edgewater building, Schrader said. Selling the building will allow the group, which provides counseling and mental health services to in-need populations, more resources to achieve its mission, he said.
“They have more space than they need,” said Schrader, who is listing the building with fellow HSA broker Michael Havdala. “It just makes sense to consolidate, monetize this property and move on.”
The building at 5710 N. Broadway is about 32,000 square feet and comes with a 24-space parking lot. It was constructed around 1920 as a car dealership with a car-sized freight elevator still in operation today, Schrader said.
Located on the corner of Broadway and Hollywood Avenue, the building was one of the most prominent car dealerships on a stretch of Broadway once known for auto lots.
There are a number of potential uses for the building, Schrader said.
One is for another non-profit or a company to buy the building and use it for office space. Or it can be bought by an investor and turned into ground-floor commercial space with residential or office uses on upper floors.
Or it could be bought by a developer who could attempt to redevelop the property into an apartment complex.
The parking lot could be rebuilt as an apartment building if the project receives city approval, Schrader said. Given the property’s size, its proximity to the Red Line and its location at a major intersection, the site should be enticing to developers, he said.
“The building and lot would be ideal for a residential use,” Schrader said.
C4 bought the building at 5710 N. Broadway in 1991 for $719,000, according to Cook County property records.
Besides its offices at 4470 N. Clark St, C4 has a counseling center at 2542 W. North Ave. and an administrative building at 2014 W. Belle Plaine Ave.
Four years ago, C4 almost sold its Uptown Clark Street offices — which were eyed for residential redevelopment — but the project did not go through.
After consolidating into the Uptown site, C4 is considering renting office space in Edgewater to maintain a counseling and service center in the neighborhood, Schrader said.
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Edgewater Nonprofit Lists Building At Hollywood And Broadway, Pitching It As Development Opportunity - Block Club Chicago
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