$6,142,399*
●
Commercial -
Off Market
937-939 West Randolph Street
Chicago, IL 60607
Studio
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
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
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 |
---|---|---|---|---|---|---|---|---|
01/21/2020
|
|
Studio
|
-
|
-
|
$5,800,000
Studio
-
|
-
-
|
-
|
-
|
03/04/2020
|
Studio
|
-
|
-
|
-
Studio
-
|
-
-
|
-
|
-
|