Overview
- The off-price retailer signed a 10-year lease for 26,000 square feet of ground-floor space at North and Sheffield, anchoring the building’s retail component.
- Farpoint Development and MCZ bought the eight-story, 200,000-square-foot property at auction in 2024 for about $20–21 million, far below its prior $89 million sale.
- The owners report the office space is about 98% leased as renovations advance with a new facade, upgraded systems and floor-to-ceiling windows for street-level retail.
- Developers say letters of intent cover roughly 45,000 square feet of remaining retail vacancies, with 10,000 square feet on the first floor and 35,000 on the second.
- T.J. Maxx cited indoor parking, transit access and nearby shopping and dining in choosing the site; the chain operates more than 1,000 U.S. stores, including about seven in Chicago.