JLL Arranges Sale of Chicago's Clybourn Center to Curbline Properties Ahead of $1B+ Foundry Park Redevelopment
CHICAGO — July 1, 2026 — JLL has arranged the sale of Clybourn Center, a 33,140-square-foot strip center located at 2029-2073 N. Clybourn Ave. in Chicago's Lincoln Park neighborhood, the firm announced. Curbline Properties acquired the property, which sits directly across from the planned Foundry Park, a $1 billion-plus mixed-use redevelopment project. JLL represented the seller in the transaction; financial terms were not disclosed.
Property Overview: Medical Tenants and Rare Urban Parking
Clybourn Center was 91.2% occupied at the time of sale and features 86 surface-level parking spaces, described by JLL as a rare amenity for street-front retail in this dense urban corridor. The center draws from a trade area within one mile that includes 56,696 residents and an average household income of $235,061.
Medical and wellness tenants account for 38% of the property's gross leasable area. Tenants include Physicians Immediate Care, Premier Allergy, and Metro Infusion.
The property also benefits from access to Interstate 90/94 and sits less than five miles from downtown Chicago. Daily traffic counts on Clybourn Avenue exceed 10,600 vehicles per day, according to JLL.
Foundry Park Catalyst and Leasing Momentum
A central element of the transaction's investment thesis is Clybourn Center's proximity to Foundry Park, a large-scale mixed-use redevelopment planned for the site directly across the street. When complete, Foundry Park is expected to 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 space, and 12 acres of open space.
The property also demonstrated leasing activity heading into the sale. Three new leases were executed in 2025, totaling approximately 20% of the center's gross leasable area, according to JLL.
"Clybourn Center represented a compelling value-add opportunity in one of Chicago's most sought-after neighborhoods," said Managing Director Michael Nieder of JLL Capital Markets. "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."
Director Brian Page added: "With Lincoln Park's top-tier demographics, the property is well-positioned as the Clybourn corridor continues to evolve."
JLL's Long-Term Leasing History at the Asset
JLL has been involved with Clybourn Center since 2009, when the firm took on leasing responsibilities for the property. Steve Schwartz, who led leasing efforts at the center, commented on the asset's history across multiple market cycles.
"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," Schwartz said. "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."
The JLL Capital Markets Investment and Sales Advisory team was led by Nieder and Page. Schwartz and his team led leasing efforts at the center.
About the Buyer: Curbline Properties
Curbline Properties is a shopping center real estate investment trust focused on convenience retail. According to the company, its portfolio is concentrated at well-trafficked intersections in affluent suburban communities across the United States.
JLL Capital Markets is a global provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists in offices across nearly 50 countries.