601 W Randolph St - Medical FOR SALE


Chicago, IL 60661- West Loop
$6,800,000 USD
847-707-3420
601 W Randolph St, Chicago, IL for Sale
$6,800,000 USD
Medical - FOR SALE
1/19
null | 7.16% Cap Rate

601 W Randolph St
Chicago, IL 60661
West Loop


HIGHLIGHTS

  • Secure Tenancy + Long-Term Leases
  • Plastic Surgery Tenant + Massive Disposable Income
  • Highly Accessible Location
  • Superb West Loop Location
  • Vibrant Business Environment
  • High Barriers to Entry + Exceptional Demographics

OVERVIEW

Greenstone Partners, as the Exclusive Investment Advisors, is pleased to present the opportunity to acquire the 100% fee-simple interest in 601 W Randolph Street (the “Property”), a 100% leased, two-tenant urban mixed-use investment prominently located in Chicago’s West Loop neighborhood at the corner of Randolph and Jefferson, steps from the Loop and all modes of public transportation servicing the city and suburbs. The ±14,800 square foot, five-story building is situated on at the southwest corner with 43 feet of frontage along Randolph Street and 76 feet along Jefferson Street. The Property’s first two floors consist of one (1) medical tenant, The Aesthetic Institute of Chicago, totaling ±6,800 square feet. The Property’s third, fourth, and fifth floors are leased to Thomas Interiors, consisting of ±8,000 square feet. The fifth floor consists of ±1,200 square feet of loft space in addition to a private rooftop terrace. The top floor is contiguous with the 4th floor via an internal staircase, offering a unique rooftop space and office with a massive skylight. The Aesthetic Institute of Chicago is a premier plastic surgery practice that offers a comprehensive range of cosmetic and reconstructive procedures. The tenant has been at the Property for 15 years and has 6 years remaining on its lease as well as a five-year option term. Thomas Interiors is a commercial office interior design firm that offers consulting, project management, and delivery/installation services for projects ranging from small reconfigurations to offices of Fortune 500 companies. The tenant has 8.5 years remaining on its lease as well as a five-year option term after moving into the Property one year ago. Located just west of Chicago’s CBD ‘Loop’, and adjacent to Fulton Market, the West Loop is a vibrant neighborhood known for its trendy restaurants and bars and convenience to all modes of transportation. The immediate area attracts young professionals, offering a lively atmosphere for socializing and entertainment along with access to public transportation and employers. The Property combines historic charm with modern functionality, housing two established tenants in the heart of this dynamic neighborhood. Positioned just 0.2 miles from the CTA Clinton Green Line ‘L” station, 0.3 miles from the Metra station at the Ogilvie Transportation Center, and along bus routes #20, #56, and #J14, the Property is easily accessible via multiple modes of transit. Furthermore, the location is considered a Walker’s Paradise (98/100) and Very Bikeable (87/100) by WalkScore.com. Within 1-mile, demographics include an average household income of $160,000+, an average home value of $450,000+, and a total population of 89,919.

FOR SALE DETAILS

PRICE

$6,800,000 USD

PRICE/SF

$459 USD /SF

CAP RATE

7.16%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

B

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,485 SF

ZONING

DX-7

APN/PARCEL ID

17-09-331-019-0000

ASK ABOUT THIS PROPERTY

Danny SpitzGreenstone PartnersMore Info
847-707-3420

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Danny SpitzGreenstone PartnersMore Info
847-707-3420

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.