937-939 West Randolph Street, Chicago, IL 60607
sale
$4,995,000
|
Other
Courtesy Of Re/Max Destiny
The COLOVOS | SOUPOS Team, (a division of RE/MAX Destiny Commercial), as exclusive agent, is pleased to present the opportunity to acquire 937-939 W. Randolph Street, a 3 story mixed-use building located on Randolph between Sangamon and Morgan within Chicago's premier Fulton Market neighborhood. The subject property benefits from its location in the thriving West Loop, which has great exposure, located along Randolph Street's Restaurant Row and positioned one block from the upcoming Nobu Hotel and three blocks from McDonald's new Global HQ, making this property a premier retail investment. The subject property was gut rehabbed in 1998 with new electric, plumbing, tuck-pointing, stairwell and HVAC. The property is a low-maintenance, well maintained building with under market rents and shorter-term leases which allows the seasoned investor the opportunity to acquire this Legacy property and cultivate the tenant mix into a premiere mixed-use property in a trophy location. Each floor is divided into two units, with the street level consisting of a dentist and restaurant. The other four tenants range from designers, architects, web designers and corporate offices. There are two common freight elevators at the rear of the building and a common stairwell in the front of the building. It is an improved three-story brick commercial building having approximately 9,000 square feet of gross building area (GBA) above grade and there is a full, unfinished, dry basement. Located in the heart of the Chicago West Loop's "Restaurant Row" 937-939 W. Randolph offers a plethora of dining options along Randolph Street. Once known as "Skid Row", the neighborhood's International reputation as a cutting-edge gastronomic center continues to thrive & has attracted industry heavyweights like Stephanie Izard (Cabra, Girl & the Goat, Little Goat, Duck Duck Goat), Paul Kahan (The Publican, Publican Quality Meats, Blackbird, Avec), Brendan Sodikoff (Au Cheval, Green Street Smoked Meats, High Five Ramen), Sarah Grueneberg (Monteverdi), Rob Katz (Momotaro, Swift & Sons), Rick Bayless (Lena Brava and Cruz Blanca), coffee houses (La Colombe, Startbucks Reserve/Princi), bakeries (Do-Rite Donuts), food halls (TimeOut) and bars (City Winery, Bar Siena, Lone Wolf Tavern, CH Distillery, The Darling, Moneygun, Kaiser Tiger, G-Cue Billards). The area is home to Michelin Star restaurants like Smyth, Alinea, Grace, Oriole, Blackbird, Next, Mako, Yugen, and Elske. West Loop Fulton Market Hotels and Retail. The West Loop consists of over One Million rentable square feet of retail inventory both existing and under construction and boasts luxury accommodations with Soho House, Robert DeNero's future Nobu Restaurant and Hotel, Ace Hotel, Hoxton Hotel, Hyatt House, and retailers like Billy Reid, Lululemon, Free People, Anthropologie, Warby Parker, and Maria Pinto. OM available upon request.
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Property Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Building Units: 6
- Cooling System: Central A/C
- Exterior Type: Brick
- Floor Covering: Wood
- Floors: 3.0
- Heating System: Central Furnace
- MLSID: 10685778
- Parking Spaces: 0
- Roof Type: Unknown
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