1234 W. Randolph Street is located adjacent to the new City Winery on Randolph Street and offers an excellent redevelopment opportunity for the neighborhood. With 125' of frontage along Randolph Street, this property has excellent exposure and an 18,000 Sq. Ft. land site currently improved with three (3) class C warehouse buildings. Much like its surroundings, this property has been used for food production. It is zoned C1-3 Commercial and is within the City of Chicago's new downtown expansion area subject to an increased FAR to promote higher density.
The subject property benefits from its location in the thriving West Loop neighborhood and visibility on Randolph Street, adjacent to City Winery Chicago. This neighborhood has seen a dramatic shift in the past five (5) years from food production warehouses to creative loft office, retail and high-end restaurant conversions. Redevelopment is the highest-and-best use for many properties in this submarket. Furthermore, the City of Chicago recently released a proposal promoting higher density redevelopment in this neighborhood. In addition to the number of new developments in the neighborhood including 1K Fulton, Morgan MFG, Fulton West, and various boutique hotels like SoHo House, Nobu and Hoxton Hotels, high density redevelopment is being considered by new development currently in planning such as the McDonald’s Corporate Office development on the former Harpo Studios site.
|Proposed Building Size||+103,500 Sq. Ft.|
|Land Size||+18,000 Sq. Ft.|
|Office||+85,500 Sq. Ft.|
|Retail||+18,000 Sq. Ft.|
|Sale Price||Subject to Offer|