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Undeveloped Hallmark property goes up for sale

Hallmark Cards is selling more undeveloped property at its Crown Center complex, this time putting four acres adjacent to its corporate headquarters on the market for $9.6 million.

This latest offering is prime real estate on the south side Hallmark's extensive land holdings, mostly on the southeast corner of Grand Boulevard and 27th Street.

Hallmark has also listed a 5-acre site at 19th and Oak streets in the East Crossroads for sale. That property is under contract with Milhaus, an Indianapolis developer with plans for mixed-use development there.

Another 2-acre site owned by Hallmark immediately to the east of the 27th and Grand is also up for sale.

Much of the property for sale at Grand and 27th is a parking lot; marketing materials for the sale offering describe the property as flat, and it has centralized utilities, which would make for easy development opportunities.

Block Real Estate Services, a real estate firm in Kansas City hired by Hallmark to list the property, said the property could be developed into a multifamily high rise project.

"This site is presumed to be mid- to high-rise multifamily, like San Francisco Tower and Santa Fe Place," said Michael Block, principal with Block Real Estate Services.

The site is near the under-construction $68 million Gallerie mixed-use project near 27th Street and Gillham Road. Milhaus is the developer of Gallerie.