Retail

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Retail

Located in the revitalized historic Goldblatts Department Store under the blade sign marking the center of the Back of the Yards community. The development team is undertaking a sensitive historic renovation of the iconic building’s ground-floor showroom, bringing new life and purpose to this vital corner of the neighborhood.

The project includes a total of 30,327 square feet of dynamic retail and community-serving space, designed not only to preserve history but to build a foundation for future prosperity.

Our firm has helped clients engaged in more than 100 different subsectors of the aerospace, space markets.

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Retail 1

Our firm has helped clients engaged in more than 100 different subsectors of the aerospace, space markets.

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Retail 2

Our firm has helped clients engaged in more than 100 different subsectors of the aerospace, space markets.

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Retail 3

Make your dream a reality

Start your business at New City United Yards

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Back of the Yards Works

The foundational element of the retail plan is Back of the Yards Works, a collective of minority- and locally-owned small businesses who are empowered to thrive through a zero-rent model and with long term ownership of the modernized spaces. These entrepreneurs will:

  • Operate without an annual lease payment
  • Receive business development and financial support through the United Yards team and other community resources
  • Be positioned to assume ownership of their spaces at the end of the 7-year hold period

This innovative approachto commercial equity, supported by the Chicago Community Trust,  helps to eliminate barriers to entry for small, minority- and community-owned businesses and fosters long-term neighborhood stability.

A New Community Landmark

A centerpiece of this transformation is the restoration and rebranding of the historic “blade” sign at the corner of Ashland and 47th, which will proudly read “Back of the Yards.” This visual beacon will serve as a community gateway, celebrating neighborhood pride and identity. In addition to this centerpiece will be numerous public art works, including murals, rotating featured artists, and sculpture.

Community Health Access: Friend Health

Complementing the retail activation is 15,000 square feet of space dedicated to Friend Health, a federally qualified health center (FQHC) and active leader in the Chicago community-based health field.

This modern facility will offer:

  • Primary medical care
  • Dental care
  • Maternal and pre-natal services
  • Mental and behavioral health care
  • Pharmacy
Project Financing and Support
  • Total Development Cost: $17.5 million
  • Private Capital Raised: $6.8 million
  • City of Chicago Support: $9.2 million
  • Chicago Community Trust Grant: $1.5 million
Development and Project Team
  • Developers: Celadon Partners, Blackwood Group, and Back of the Yards Works
  • Architecture and Design: DesignBridge & AP Monarch
  • General Contractor: Blackwood Group
  • Predevelopment Support: IFF and Chicago Community Loan Fund
  • Lenders: IFF, LIIF, and US Bank
  • NMTC Equity Investor: Liberty Bank
  • Legal and Strategy: Applegate Thorne Thomsen and Reyes Kurson
  • Financial Consulting: Crow Island Community Capital

This retail and community health hub is more than a commercial center—it’s a bold reinvestment in legacy, equity, and local entrepreneurship, redefining what community development looks like in the 21st century South Side.

Our Mission

Our clients’ needs are constantly changing, so we continually seek new and better ways to serve them. To do this, we are bringing new talent.

Investment Management

We welcome and celebrate different perspectives to help our firm, our clients and our people achieve enduring results.

Private Credit & Equity

We hire people with exceptional talents, abilities and potential, then create an environment where you can become the best.

Retail Headline

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Point 2

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Point 3

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