Ali Ata of AAIM Development, a leading property development firm, recently wrapped up a major Chicago building project and will soon complete another value-adding construction project in the Windy City.
The first construction project, completed in Fall 2021, involved erecting an 8,500-square-foot building on the north side of Chicago. Fifty percent of the building is currently being leased to a national medical user, and a restaurant operator will use the remainder of it.
The second in-process project involves a building on Harlem Avenue. This high-traffic north-south corridor stretches through Chicago and its northwestern, southwestern, and western suburbs. This street remains the United States’ third-longest avenue.
As part of the Harlem Avenue Project, AAIM Development has already rehabilitated the interior portion of the mixed-use retail and residential building it purchased in 2020. The residential portion of the 14,000-square-foot building, which was renovated in August 2021, currently boasts a 100% occupancy, as all units are being leased. AAIM Development plans to complete the building’s exterior renovation in Spring 2022. This project phase will involve completing work on the building’s retail units.
Ali Ata said he is excited that the first building is on Chicago’s north side, one of the city’s most walkable neighborhood. The area offers access to excellent transportation and a wide range of entertainment, dining, and shopping options. He is also happy that the second building project is taking place on high-profile Harlem Avenue. This street features a wide range of retail and service business on a very heavily traveled Harlem Avenue.
AAIM Development’s latest properties will add extra value to the Chicago community while also helping the development firm to continue to thrive in today’s real estate market, according to Ali Ata.
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