See Home Value
Chicago 60607 West Town
937-939 West Randolph Street
$6,142,399*
Commercial - Off Market

937-939 West Randolph Street

Chicago, IL 60607
bedrooms
Studio
bathrooms
0 Bath
$4,496,000 - $5,494,000
Reference Base Price*
22.97%
Since Apr 1, 2021
IL-Chicago
Primary Model

About This Property

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.
Unit Size
-
Days on Market
-
Land Size
-
Price per sqft
-
Property Type
Commercial
Property Taxes
$43,580
HOA Dues
-
Year Built
1910

Price History

Date / Event Date Event Price
Mar 25, 2021 No longer available -
No longer available
Aug 4, 2020 Price Decreased $4,995,000
↓ $355K (6.6%)
Price Decreased
Jun 27, 2020 Price Decreased $5,349,735
↓ $50K (0.9%)
Price Decreased
Apr 8, 2020 Listed $5,400,000
Listed

Property Highlights

Air Conditioning


Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
Multifamily
5 Beds
5.5 Baths
4,949 ft²
$1,000/ft²
$4,950,000 Jan 23, 2023
-
$4,282/mo

Past Sales

Date Unit Beds Baths Sqft Price Closed Owner Listed By
20200121
01/21/2020
Studio
-
-
$5,800,000
bedrooms
Studio
bathrooms
-
-
-
-
-
20200304 Unit 2E
03/04/2020
2E
Studio
-
-
-
bedrooms
Studio
bathrooms
-
-
-
-
-

Building Info

937 West Randolph Street 937 West Randolph Street, Chicago, IL 60607
More about this Building
937 West Randolph Street
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