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Outstanding For-Profit Neighborhood Real Estate Project

While to Chicagoans, the Beverly neighborhood is known as a vibrant neighborhood, replete with graceful lawns, well- built homes and a strong community life, for years national retailers rejected it as a desirable location, leaving the neighborhood bereft of the shops and services it needed.

One developer, however, was able to break the mold. Zifkin Realty & Development, determined to bring retail to Beverly, did so by helping retailers understand the potential that they were missing from looking at cookie cutter demographic data.

The results of their efforts are The Shops of Beverly, a 21,879 square foot retail center at 95th Street and Oakley. The first new major retail center to be created in the neighborhood in more than 30 years, the $5.1 million development houses eight tenants and is complemented by ample parking. Within three months of its grand opening in May of 2005, the center was 100 percent leased to a tenant base of popular, high-profile companies, including Panera Bread, Chipotle, EB Games, Chase, Nextel, Cold Stone Creamery, Accelerated Rehab and Score Educational Testing.

Privately financed by Bank One and the developer, The Shops of Beverly is reflective of a collaboration with the area’s leading organizations, the Beverly Area Planning Association (BAPA), 95th Street Business Association, the Beverly Local Redevelopment Corporation and the Morgan Park Beverly Hills Business Association. This relationship shaped the entire planning and development process, and The Shops of Beverly embodies the prairie style of architecture that is a signature of the Beverly community.

For its design, contribution to the community’s economic life and collaborative relationship with the neighborhood, Zifkin Realty & Development is honored with the Outstanding For-Profit Neighborhood Real Estate Project Award for the Shops of Beverly development.