Trophy Fulton Market Retail - Chicago, IL

925 W Randolph St Chicago , IL 60607-2247

Trophy Fulton Market Retail - Chicago, IL - retail for sale

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Overview



JLL, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the fee simple interest in a single-tenant building located at 917-925 W Randolph Street (the “Property”) along Chicago’s famed Restaurant Row. The Property is subject to a net lease to B. Restaurant, LLC (the “Tenant” or “Formento’s”), a venture of Chicago-based B. Hospitality Co. (“B. Hospitality”), one of the top restauranteurs in the nation. Situated just west of the Chicago CBD, the site encompasses irreplaceable real estate in the heart of the most sought-after urban submarket, the Fulton Market District (“Fulton Market”). Spurred by the arrival of Soho House Chicago in summer of 2014, Fulton Market quickly transformed into one of the most coveted high-growth markets in the entire country, as demonstrated by WeWork’s opening of its flagship location, Google’s entrance at 1K Fulton, and McDonald’s relocation of its corporate headquarters – all within three blocks of the Property. The neighborhood continues to draw a multiplying number of blue-chip corporate tenants, high growth brands, towering residential developments and dynamic amenities. As a testament to the Property’s premier location, innovative design and world-class operator, Formento’s has outperformed early expectations and is poised for continued success, providing a potential investor upside opportunity through percentage rent and mark-to-market value creation in the significantly below market rent.


Investment highlights



• Fulton Market District emergence

• Located at the epicenter of Chicago’s technology hub

• Premier Restaurant Row location

• State-of-the-art construction and innovative design

• Diversified revenue streams

• Best-in-class operator

• Desirable lease structure with percentage rent feature

• Ideal demographics for hospitality

General
Property type Retail
Tenure type Sale/Purchase
Property address 925 W Randolph St, Chicago, IL 60607-2247
Land in acres 0.13
Building size 13,426  ft2
Year built 1916
Year renovated 2014
Financial
Price Confidential
Cap rate Confidential
Lease

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