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Sold
937-939 W Randolph Street
Chicago IL, 60607
$4,500,000
$516.17 per sqft
Sold
8,718 sqft
Commercial
Built in 1914
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.
10685778
MLSⓇ ID
February 14, 2024
Updated
Map
937-939 W Randolph Street
Chicago IL, 60607
Interior Features
Total Stories
3
Floor Description
Wood
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
No
Exterior/Building Features
Lot Size
0.07 Acres
Roof
Reflective Coating
Other Property Details
Area Name
CHI - Near West Side
Taxes
$43,580
Tax Frequency
Annually
Days on Market
351
Garage
No
View
No
County
Cook
Municipality
West Chicago
Pool
No
Zoning
COMMR
Courtesy of RE/MAX Destiny, Georgia Colovos,
Listing Contact: 630-750-5585
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Data last updated 8:25 AM UTC, 2/14/2024