Shoe Giant, DSW, Coming to Busy Next-Door Corridor

The ever-growing Clybourn Avenue retail corridor has gained another big-name tenant, according to reports.

CRM Properties Group Ltd. secured Ohio-based DSW Shoe Warehouse for a 22,000-square-foot store, which will be on one of the building's two stories, according to Chicago Real Estate Daily. The structure in question is on the southwest corner of Fremont and Weed streets.

The report says CRM did not disclose the cost of the construction loan it received for the project from Cole Taylor Bank.

"New retail projects are still rare in a market that was hammered after the downturn," the story says. "Developers are expected to build about 2 million square feet of shop space in the Chicago this year, well below the 8.4 million square feet they developed in 2007, according to a report from Oakbrook Terrace-based Mid-America Real Estate Corp."

Deerfield-based CRM Properties Group Ltd. is also behind the local Williams-Sonoma, which shares a 15,000-square-foot building with the newly opened, adjacent Anthropologie. 

The developer acquired a $19 million construction loan in March 2012 to add to the Clybourn Corridor, according to Cook County records. The area includes 2.5 acres spread over four parcels.

• READ: PHOTOS: Work Under Way at Williams-Sonoma ANDFremont Anthropologie Sees Busy Opening Weekend