august 2018 leasing overview asking rent€¦ · asking rent: $28/sf mg ... including a mix of...
TRANSCRIPT
Offering Highlights
• Premier loft office space located across from Mary Bartelme park
• Entire Third floor - 6,250 SF available
• Completely remodeled December 2017
• Exposed brick and heavy timber with high ceilings
• Two restrooms
• Located in the heart of the West Loop with world renowned restaurants, hotels and entertainment, steps to Whole Foods and Greektown
• Walking distance to the Metra at Union Station and easy access to I-90/94 & 290
• Property is agent owned
Offering Summary
Available Space: 6,250 RSF
Date Available: August 2018
Asking Rent: $28/SF MG
Building Class: B
Zoning: DX-5
Sub-Market: West Loop
2
LEASING OVERVIEW
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10ft.8.00in.
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32ft.
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7ft.4.00in. 21ft.5.00in.
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24ft.6.00in.
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12ft.9.00in.
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Third Floor Overview
Third Floor: 6,250 RSF
Asking Rent: $28/SF MG
Available: August 2018
3rd Floor FLOOR PLAN
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The West Loop is Chicago’s former warehouse district and is among the most rapidly developing neighborhoods in the country. Originally a mix of factories, meat markets, and wholesale produce outlets, the neighborhood has seen a major demographic shift over the last decade. The historic brick and timber loft buildings that define the neighborhood have largely been converted to other uses, including a mix of luxury condos, creative offices, art galleries, critically acclaimed restaurants, hotels, and retail boutiques.
The West Loop has evolved into a must-see destination for locals and visitors who want to eat well. With new restaurant concepts opening on almost a weekly basis, the area boasts everything from Michelin Star rated Blackbird, Moto, Elske, Smyth & The Loyalist and Sepia restaurants to more casual options like Green Street Smoked Meats, Shake Shack, Sweetgreen, Parlor Pizza, Federales, and Umami Burger. Other well-known dining options include Girl and the Goat, Au Cheval, Lena Brava, Aviary, Momotaro, City Winery, Publican and Avec.
The neighborhood’s international reputation continues to grow with the opening of Google’s new Midwest headquarters, McDonald’s Global headquarters, Soho House hotel, Nobu Restaurant and hotel, Hoxton hotel, the We Work co-working building, and the upcoming Punch Bowl Social and Ace Hotel. Other companies calling the West Loop home include Uber, LinkedIn, Twitter and Gogo Inflight Internet. High-end retailers are also recognizing the area’s potential with the recent additions of Anthropologie, Free People, Billy Reid and Maria Pinto.
Excellent public transportation options including Metra train access at Ogilvie and Union Station combined with one of the city’s newest CTA stations in almost a decade that opened at Morgan and Lake in 2012 will continue to attract businesses and residents alike, making the West Loop one of Chicago’s most exciting and desirable neighborhoods.
To learn more about the West Loop, visit our blog at: www.westloopreport.com.
MEDIAN AGEAVERAGE INCOMEPER HOUSEHOLD
ESTIMATED POPULATION
ESTIMATEDDAYTIME
POPULATION
33 $135,000
52,00094,000
*DEMOGRAPHIC SNAPSHOT DATA PROVIDED BY APPLIED GEOGRAPHIC SOLUTIONS & COSTAR GROUP
NEIGHBORHOODSNAPSHOT
845+
NEIGHBORHO0DHOTEL ROOMS
PERCENTAGE OF POPULATION WITHBACHELOR’S DEGREE
80%
92%
SUB-MARKETOCCUPANCY
SF UNDER CONSTRUCTION
1,700,000
2018 MICHELINRECOGNIZED
RESTAURANTS
15
TOTAL ANNUAL RETAIL GOODSEXPENDITURE
$570,000,000
1.6
AVERAGEHOUSEHOLD SIZE
PERCENTAGE OFPOPULATIONWALKING TO WORK
31%
TOTALBUSINESSES
4,128
PERCENTAGE OFPOPULATION WITH
WHITE COLLAR JOBS
90%
5
WEST LOOP DESCRIPTION
5
GRAND
HUBBARD
KINZIE
CARROLL
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FULTON FULTON
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MELICAFE 9 MUSES
ARTROPOLISBAKERY
MR GREEKGYROS
ATHENA ARKADIAWEST LOOP
PILATESPRO WORKS
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SQUARE ROOTSKITCHEN
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NAF NAF GRILL
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GIBSON’SITALIA
6
112 South Sangamon
NOTABLE AREA TENANTS
1K FULTON• Located at 1000 W Fulton• Current home of Google’s Midwest HQ,
SRAM, The Mill Visual Effects and Sandbox Industries
• Retail consists of Swift & Sons Steakhouse and South Central Bank
• Estimated employee population of 2,500• 530,000 SF development, which Google
occupies approximately 360,000 SF• All 1K Fulton tenants signed long term
leases
RANDOLPH WEST• Located at 110 N Carpenter• Home of McDonald’s Global HQ• McDonald’s will occupy 485,000 SF• Development will house approximately
2,000 employees• Completed in April of 2018• McDonald’s signed a 15-year lease• McDonald’s vendors, including Coca-Cola
are expected to relocate to the Fulton Market neighborhood
THE GOOGLE EFFECT
THE MCDONALD’S EFFECT
7
GIRL & THE GOAT809 WEST RANDOLPH STREET
RESTAURANTSNOTABLE RESTAURANT TENANTS
1020 W Madison 619 W Randolph 802 W Randolph 832 W Randolph
820 W Lake 809 W Randolph 108 N Green 834 W Fulton
180 N Morgan 951 W Fulton 1000 W Fulton
123 N Jefferson 177 N Ada 845 W Washington
738 W Randolph 1350 W Randolph 661 W Walnut 925 W Randolph
Monteverde Blackbird Bad Hunter Bar Siena
Momotaro Girl & The Goat Parlor Pizza Bar Beatrix
Ronero Elske Oriole Formento’s
Sepia Smyth & The Loyalist El Che Bar
Federales Roister Swift & Sons
8
940 W Fulton 167 N Sangamon 118 N Peoria 823 W MadisonAesop Lululemon Local Notre Orangetheory Fitness
9LULULEMON LOCAL167 NORTH SANGAMON STREET
RETAILNOTABLE RETAIL TENANTS
845 W Randolph 773 W Adams 16 S Halsted 40 S Halsted
1000 W Randolph 1 N Madison 175 N Halsted
725 W Randolph 1101 W Randolph 833 W Washington
832 W Randolph 1144 W Randolph 1101 W Jackson 123 N Randolph
Anthropologie Whole Foods CycleBar
Billy Reid Pilates Pro Works Ulta Beauty Mariano’s
Equinox Free People M2057 By Maria Pinto
Punch Bowl Social Art & Science Salon Target 100 S Morgan
311 N MorganAce Hotel
118 N JeffersonHampton Inn
725 W RandolphEquinox Hotel
108 N MayThe Publishing House
113 N May
10SOHO HOUSE CHICAGO113 NORTH GREEN STREET
HOTELSNOTABLE HOTELS
844 W Lake 113 N Green 854 W RandolphThe Hoxton Hotel Soho House Chicago Nobu Hotel Chicago
Hyatt Hotel118 N JeffersonHomewood Suites
733 W MadisonCrowne Plaza Hotel
11FULTON WEST1330 WEST FULTON MARKET
OFFICENOTABLE OFFICE TENANTS
Twitter Morton Salt Wework Zurich
Glassdoor Hyatt Skender Construction Motorolla
Pepsico Dyson DLA Piper
Hillshire Brands SRAM Gogo Inflight Internet
Boeing TransUnion Allstate SC Johnson
16,000 SF 52,000 SF 125,000 SF 108,000 SF
413,000 SF 40,000 SF 175,000 SF
51,000 SF 250,000 SF 40,000 SF 604,000 SF
230,000 SF 75,000 SF 263,000 SF
600,000 SF 246,000 SF 15,000 SF 280,000 SF
SVN Chicago Commercial 940 West Adams Street, 2nd Floor
Chicago, Illinois 60607
www.svnchicago.com
All SVN® Offices Independently Owned & Operated.
The information listed in this brochure has been obtained from sources we believe to be reliable, however we accept no
responsibility for its correctness.
Chad Schroedl312.756.7329 [email protected]
Scott Maesel312.676.1860 [email protected]