Last updated on May 15th, 2019 at 05:02 pm
Cobalt Partners LLC has purchased the former Chapman School property in Greenfield to be used as part of the 84South mixed-use development along Interstate 894 between 84th and 92nd streets.
Cobalt purchased the 11-acre property at 8500 W. Chapman Ave. last week for $2.45 million from the Greenfield School District, according to state real estate records.
The property is located in the middle of the 48-acre mixed-use development, which will include a new Steinhafels store and more than 200,000 square feet of retail, including a Fresh Thyme Farmers Market.
Other tenants include Stein Mart, Total Wine & More, Ross Dress for Less, Marshalls, Ulta Beauty, OshKosh B’Gosh, Carter’s, Kirkland’s a Portillos, according to several real estate sources.
Scott Yauck, president and CEO of Cobalt Partners, has not commented on tenants other than the Fresh Thyme and Steinhafels. Yauck said he’s expecting to break ground on the first retail building in the next four weeks.
Cobalt will purchase the 2-acre Layton Avenue Baptist Church property this week at 9000 W. Layton Ave., finalizing all of the pieces of the development, Yauck said.
“We’re making good progress and everything is moving along even better than scheduled because of the good weather,” Yauck said.
By early 2017, 84South will break ground on three concept restaurants and the first phase of more than 300 apartments, plus a second phase of the project that will be announced later this year, Yauck said.