SHINER GROUP ACQUIRES 227 E ONTARIO

Chicago, Illinois – Shiner Group successfully acquires the building at 227 E Ontario—a 2-story, 16,000+ square foot retail asset in the heart of Northwestern Memorial Hospital’s Medical District and the Streeterville neighborhood of Chicago. Current tenants at the property include sweetgreen, Nando’s, and CorePower Yoga.

The Shiner Group is excited to break into one of the best submarkets in Chicago. The property is located adjacent to Northwestern Memorial Hospital’s campus—the top-ranked hospital in the Midwest and the largest hospital in Illinois with almost 1,500 fully staffed beds. The hospital shares its campus with the Pritzker School of Law and the Chicago campus of Kellogg School of Management. Northwestern continues to expand in the neighborhood and invests heavily in neighborhood beautification and safety for its staff, patients, students, and local residents. As a result, while Chicago has seen a decline in population of 4% since 2000, Streeterville’s population growth in that same period is an eye-catching 37%.

While tenants receive a boost from daytime traffic of the hospital, the site also shares the same city block with 7 hotels—the newly renovated Hyatt Centric Hotel, the Courtyard Marriot, the Aloft Hotel, Hotel Saint Clair, Hotel EMC2, the Fairfield Inn, and the Ivy Hotel. In addition, 300 residential units have been delivered within two blocks of 227 E Ontario this year, the luxury apartments at the Saint Grand and the expected delivery of the Paper Box Lofts.

Lastly, 227 E Ontario remains one of the only parcels in the area not to be re-developed vertically, which makes it a prime covered land play for redevelopment in the future.

As always, the Shiner Group plans to work with its tenants, neighbors, and local stakeholders to improve the area it invests in, and the company looks forward to being part of one of the most important neighborhoods in the country.

This acquisition is part of a broader strategy of owning irreplaceable urban real estate with great current tenant sales, strong localized population growth, and long-term redevelopment opportunities.

 For any questions or comments, please reach out to Sam Shiner at sshiner@shinergrp.com.