the
®
QTR 3 | 2015
Copyright © 2015 The West Loop Report™ All Rights Reserved. Published by Urban Real Estate Team and Sperry Van Ness
Sperry Van Ness LLC| Commercial Real Estate Advisors 940 West Adams, Suite 200, West Loop, Chicago, 60607
www.svn.com
About the Report
QTR 3 | 2015 Quarterly Publication Second Edition - Volume 1 The West Loop Report™ Attn: Scott Maesel 940 West Adams Suite 200 West Loop Chicago, Illinois 60607 http://thewestloopreport.com/
Copyright © 2015 The West Loop Report™ All Rights Reserved. Published by Urban Real Estate Team and Sperry Van Ness Data compiled by Urban Real Estate Team and Sperry Van Ness Publication Design and Graphics by Jennifer R. Lea www.jenrldesign.com No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photography, recording, or any information storage and retrieval system, without written permission in writing from the copyright owner. While every effort has been made to trace all present copyright holders of any material in this publication, any unintentional ommission is hereby apologized for in advance, and we would be pleased to correct any errors in future editions of this publication.
The West Loop Report is a compilation of comprehensive knowledge that we have garnered by being active in the marketplace for over a decade. This report is constantly evolving and continually tracking all closed transactions, new developments, and market data. This report contains proprietary information that has been obtained from a multitude of sources not readily available to all commercial real estate advisors or the general public.
About The West Loop The West Loop area, a former manufacturing corridor turned art-edgy neighborhood, was a mix of factories, meat markets, and wholesale produce outlets throughout the late 1800s and most of the 1900s. Many of these businesses still thrive in the area, but the neighborhood has seen a major demographic shift over the last few decades. The factories, most of which have closed, have been converted to high-priced lofts, critically acclaimed restaurants, night clubs, art galleries, and retail boutiques. This demographic shift easily makes the West Loop one of Chicago’s most desirable neighborhoods with more development than any other area in the city. Businesses and operators such as Google, Soho House, We Work, and Uber have chosen to make their Chicago home in the West Loop. The transformation began to happen in part because of the neighborhood’s proximity to the Loop, but also because of the availability of the massive timber and beam loft buildings, which have allowed for varying creative uses. To learn more about the West Loop area go to our blog: www.thewestloopreport.com
About The Publisher We are consistently aware of all on and off market West Loop transactions that impact the value of West Loop real estate. Because of our extensive market knowledge, we are confident that we can accurately advise you on how to achieve the highest and best use for your asset. By having extensive knowledge of past, present, and future West Loop real estate developments, we can advise our clients on how to optimize their asset value.
Sincerely,
Scott R. Maesel West Loop Resident, Property Owner, Business Owner Executive Managing Director- Sperry Van Ness
“
the West Loop Neighborhood is an evolving urban landscape with renowned industrial architecture being redeveloped into residential, retail and commercial space.”
“
2 | The West Loop Report®
WLR Online @ www.thewestloopreport.com
CONTENTS NEIGHBORHOOD
Q3 | 2015 Then and Now ... 8 Demographics ... 14 Businesses... 22 Maps ... 28
RECENT NEWS
Commerical ... 42 Residential ... 44
DEVELOPMENT
Development Pipeline ... 46 Sub-Market Snapshot ... 50
INFORMATION
Background/Experience ... 58 Sold Properties ... 60 Leased Properties ... 64
SVN Urban Real Estate Group
The West Loop Report速 | 3
4 | The West Loop Report速
neighborhood THEN AND NOW DEMOGRAPHICS BUSINESSES MAPS
The West Loop Report速 | 5
the for mal boundaries of today ’ s
WEST LOOP NEIGHBORHOOD are the chicago river to the E ast , ashland avenue to the W est , gr and avenue to the N orth , and highway 290 to the S outh .
6 | The West Loop Report®
WLR Online @ www.thewestloopreport.com
Mi
ke
W Hubbard St
W Hubbard St
eA ve
W Kinzie St
W Kinzie St
W Adams St W Quincy St W Cottage Pl
W Jackson Blvd W Van Buren St
Peoria St
W Monroe St
N Desplaines St
Halsted St
Green St
N Morgan St
N Carpenter St
N May St
N Racine Ave
N Aberdeen St
Sangamon St
Throop St
W Madison St
S Throop St
S Loomis St
Throop St
N Bishop St
W Washington Blvd
W Randolph St
W Lake St W Randolph St UNION STATION
N Jefferson St
N Elizabeth Street
N Ada Street
N Loomis St
de
nA ve
N Laflin St Og
W Lake St
R
S Laflin St
W Fulton St
W Fulton St
VE
W Warren Blvd
W Wayman St
W Wayman St
RI
N Justine St
W Carroll Ave
GO
ASHLAND AVE
W Arbour Pl
CHICA
W Kinzie St
N Canal St
lw au
N Clinton St
N Noble St
N Armour St
W GRAND AVE
W Washington Blvd
W Madison St W Monroe St
W Adams St W Jackson Blvd W Van Buren St
THE NEIGHBORHOOD A former manufacturing and transportation corridor turned into a residential and commercial neighborhood, the West Loop area is made up of warehouses that have been converted to loft condominiums, new construction high-rise condominiums and apartments, professional and creative offices, retail, and renowned restaurants. The West Loop consists of several distinct areas within the neighborhood including Greek Town, The Fulton River District, Restaurant Row on Randolph, the Fulton Market/Meat Packing District, plus an area immediately east of Hwy 90/94 that includes Fortune 500 companies like Boeing. In addition to notable buildings like the Presidential Towers, this area also includes Old St Patrick’s Church, one of the oldest standing structures to survive the Great Chicago Fire of 1871.
SVN Urban Real Estate Group
The West Loop Report® | 7
RANDOLPH STREET MARKET EARLY 20TH CENTURY
8 | The West Loop Report速
WLR Online @ www.thewestloopreport.com
RANDOLPH STREET MARKET 2015
THEN AND NOW SVN Urban Real Estate Group
The West Loop Report速 | 9
THEN
T
he area area was first inhabited in the 1800’s by immigrants, many from Eastern Europe and Russia, who came to this region looking for employment. While the first settlers did find homes in the West Loop, much of the area was a warehouse district - full of factories and businesses. When Greektown was founded later in the century, some commercial sites were then developed into housing. In the 1920s Prohibition prompted the “Dry Law”, bringing a wave of immigration. With this wave came a diverse group of people, many whom arrived to work in the factories but then ended up residing in the neighborhood by default. The area continued to experience growth and 40 years later, when the University of Illinois expanded to open its Chicago campus (located just south of the West Loop), the demand for housing increased significantly. With this housing
10 | The West Loop Report®
trend emerging, builders began developing new properties and converting warehouses into modern lofts and condominiums. The Meat Packing District, also known as Fulton Market, located in the northern part of the West Loop, is currently in transition. With about half of the original meat packers moved out, and the other half starting to follow suit, the district is filling in with restaurants, retailers and creative offices. The character of the buildings and streetscapes here can be found nowhere else in the city. This district is also becoming established as one of the best places to live in Chicago with young professionals moving in who want to live and work in the city. In turn, this area has become a desirable place for retailers to set up shop and operate their businesses. The availability of larger unique spaces gives retailers the ability to open a restaurant or store in one of the hottest districts in Chicago.
WLR Online @ www.thewestloopreport.com
then
now
Looking west on Fulton Market, 1961, Chicago
Looking west on Fulton Market Street, Chicago, 2015
featured on the Calumet 412 Blog
http://calumet412.com/post/27415788850/looking-west-on-fultonmarket-1961-chicago-when
then
now
Fulton Market Cold Storage Company advertisement from 1921, featured in California Fruit News, Volume 64, Issue 1722.
Growing Google grabs more space in West Loop office project (redeveloping the former Fulton Market Cold Storage building)
http://books.google.com/books?id=x1VRAAAAYAAJ&dq=fulton%20market%20cold%20storage%20%20 history&pg=PA5#v=onepage&q=fulton%20market%20cold%20storage%20%20history&f=true
http://www.chicagobusiness.com/realestate/20131230/CRED03/131229887/growing-google-grabsmore-space-in-west-loop-office-project
The West Loop is one of Chicago’s newer neighborhoods. Only recently has it begun to be developed; so its history is fairly straightforward. SVN Urban Real Estate Group
The West Loop ReportÂŽ | 11
NOW This ultra-urban, former warehouse district is one of Chicago’s hippest, up-and-coming neighborhoods, located just steps away from Loop. The West Loop is home to fine galleries and some of the city’s trendiest lofts and condominiums; great for those who like being next to downtown yet enjoy a little breathing room as well. Even though the neighborhood had its start as an industrial storage center, the West Loop is making up for lost time by infusing the area with as much active life and entertainment options as space will allow. Beginning with a couple public parks, the community is far from deprived of open expanses of green or recreation opportunities these days. In fact, West Loop’s Union Park is more than a playground since it doubles as an annual outdoor festival venue for the popular Pitchfork Music Festival. Fashionable, trendy local restaurants also help distance the neighborhood from its uninhabitable days with a variety of tastes from fusion sushi to a cluster of Athenian-inspired establishments collectively referred to as the one and only Greektown. The majority of the real estate located within the West Loop is shared housing with high-rise condominium buildings closer to downtown and lofts/townhomes nestled further west. When the warehouses in the West Loop closed, the raw space lent itself to designers and architects to convert these spaces to loft office buildings and residential units. The West Loop has the highest concentration of exposed brick and timber lofts in the city. West Loop real estate is popular for a few reasons: it makes for an easy commute to work and the area has a wealth of real estate from which to choose. This is one of the best neighborhoods in the city to integrate modern 12 | The West Loop Report®
living with the history of the community. The city has recognized the popularity of the area and participated in revitalization of the neighborhood by adding parks and infrastructure. The West Loop is experiencing development and investment at a more aggressive rate than most neighborhoods in the city. Developers have begun building apartment buildings in the neighborhood at an impressive pace. Condo mid-rises are being built as well with developers betting on the strength and momentum of the area. There are currently over 3,000 apartment/ condo units planned for the West Loop in the next 24 months. Investor and developers are also targeting the West Loop for commercial development and acquisitions which will only strengthen the already thriving neighborhood. WLR Online @ www.thewestloopreport.com
Real estate developers are purchasing timber and beam industrial facilities to convert into retail and loft office space because of the location and character of the area. Developers are also buying vacant land and “tear-down” buildings in order to build new office condominium buildings and residential rental properties. Many tenants moving into the new office spaces include high tech offices, shared workspaces, creatives, retail stores, and galleries. Most of the rentals being planned are targeted for young professionals who want to live, work, and play in the downtown area. The West Loop is continuing to grow as a neighborhood. Its personality is being enhanced with new luxury condominiums and rentals, world class restaurants, energy from new tenants, and character from the old world meat packing era. SVN Urban Real Estate Group
“The West Loop is one of the best neighborhoods in the city to integrate modern living with the history of the community.”
The West Loop Report® | 13
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WLR Online @ www.thewestloopreport.com
demographic snapshot
SVN Urban Real Estate Group
The West Loop Report速 | 15
16 | The West Loop Report速
WLR Online @ www.thewestloopreport.com
PROFILE OF A SVN Urban Real Estate Group
WEST LOOP RESIDENT The West Loop Report速 | 17
18 | The West Loop Report速
WLR Online @ www.thewestloopreport.com
42.2%
$2,831
Avg. Monthly Income Spent on Retail Purchases
PROFILE OF A SVN Urban Real Estate Group
WEST LOOP RESIDENT The West Loop Report速 | 19
20 | The West Loop Report速
WLR Online @ www.thewestloopreport.com
PROFILE OF A SVN Urban Real Estate Group
WEST LOOP EMPLOYER The West Loop Report速 | 21
22 | The West Loop Report速
WLR Online @ www.thewestloopreport.com
WEST LOOP BUSINESSES SVN Urban Real Estate Group
The West Loop Report速 | 23
Walsh 929 W Adams
Marianos 40 S Halsted
Sperry Van Ness 940 W Adams
One Off Hospitality Group 622 W Randolph St
www.walshgroup.com
www.marianos.com
www.svnchicago.com
www.oneoffhospitality.com
Hillshire Farm 400 S Jefferson
SRAM 1000 W Fulton
Target 1101 W Jackson
Boka Group 809 W Randolph
www.hillshirefarm.com
www.sram.com
www.target.com
www.bokagrp.com
Threadless 1260 W Madison
H2O Plus 845 W Madison
HP Architecture 232 N Carpenter
La Colombe 955 W Randolph
www.threadless.com
www.h2oplus.com
www.hparchitecture.com
www.lacolombe.com
24 | The West Loop Report速
WLR Online @ www.thewestloopreport.com
Floyd’s Barbershop 935 W Randolph
MNML 1032 W Fulton
United Center 1901 W Madison
Sterling Bay 1040 W Randolph
www.floydsbarbershop.com
www.mnml.com
www.unitedcenter.com
www.sterlingbay.com
Uber 370 N Carpenter
Twitter 111 N Canal
Go0gle Chicago 1000 W Fulton (coming soon)
Billy Reid West Loop 845 W Randolph (coming soon)
www.uber.com
www.twitter.com
www.google.com
www.billyreid.com
WeWork 210 N Green
Brooklyn Boulders 100 S Morgan
Athletico 24 S Morgan
Whole Foods 1 N Halsted
www.wework.com
www.bkbchicago.com
www.athletico.com
www.wholefoods.com
WEST LOOP BUSINESSES SVN Urban Real Estate Group
The West Loop Report® | 25
26 | The West Loop Report速
WLR Online @ www.thewestloopreport.com
Soho House 113-125 N Green
Shapack Partners 120 N Green
Bucketfeet 935 W Randolph
www.sohohousechicago.com
www.shapack.com
www.bucketfeet.com
GoGo 111 N Canal
The Mill 310 N Peoria
Morton Salt 444 W Lake
www.gogoair.com
www.themill.com
www.mortonsalt.com
Boeing 100 N Riverside
LinkedIn 525 W Monroe
Brooklyn Bowl 832-56 W Fulton
www.boeing.com
www.linkedin.com
www.brooklynbowl.com
WEST LOOP BUSINESSES SVN Urban Real Estate Group
The West Loop Report速 | 27
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WLR Online @ www.thewestloopreport.com
ride
dine
stay
SHOP
play
WEST LOOP MAPS SVN Urban Real Estate Group
The West Loop Report速 | 29
N Noble St
N Armour St
ride
W GRAND
W Hubbard St
W
W Kinzie St
N Elizabeth Street Throop St
S Loomis St
Throop St
N Bishop St
W Madison St
W Monroe
W Adams S W Quincy St W Cottage Pl
S Throop St
RAIL
S Laflin St
W Warren Blvd
PINK LINE GREEN LINE BLUE LINE
W Washington Blvd
BLUE LINE RACINE
30 | The West Loop Report速
N Aberdeen St
Green and Pink lines
W N May St
Og
ASHLAND STATION
W Fulton St N Racine Ave
N Ada Street
N Loomis St
W Carroll Ave
de
nA ve
N Laflin St
N Justine St
ASHLAND AVE
W Arbour Pl
W Jacks
W
AVE
Mi
ke
W Hubbard St
eA ve
W Kinzie St
W Wayman St
W Wayman St
Peoria St
St
W Randolph St UNION STATION
N Jefferson St
N Desplaines St
Halsted St
Green St
Sangamon St
N Morgan St
N Carpenter St
e St
W Lake St
R
W Randolph St
VE
W Lake St
Green and Pink lines
RI
W Fulton St
CLINTON STATION
GO
Green and Pink lines
CHICA
MORGAN STATION
N Canal St
W Kinzie St
N Clinton St
lw au
GRAND STATION Blue line
t
N
W Washington Blvd
W Madison
OGILVE TRANSPORTATION St CENTER
W Monroe St
W Adams St AMTRAK
son Blvd
W Jackson Blvd
W Van Buren St BLUE LINE UIC-HALSTED
W Van Buren St
BLUE LINE CLINTON
The West Loop Report速 | 31
N Noble St
N Armour St
WH
W Kinzie St
dine
Duck Duck Goat Giordano's
W Warren Blvd
Belly Q Kaiser Tiger Wishbone
N Elizabeth Street
N Ada Street
N Loomis St
W Washington Blvd
Third Rail Tavern
S Loomis St
Publican Quality Meats Glazed and Infused Little Goat Diner
RM Champagne Salon Bar West End Bar & Grill De Cero Vivo La Sirena Clandestina Green Street Meats Fulton Market Kitchen TÊTE Charcuterie Bar Takito Cemitas Puebla Parlor Pizza Bar Chicken Shop + Dirty Burger Pizza East Momotaro Lou Malnati’s
32 | The West Loop Report®
36 37 38 39 40 41 42 43 44 45 46 47 48 49
Carnivale
W Cottage Pl
Flat Top Grill Más Monteverde Old Fifth Beer Bistro The Crossroads Bar & Grill Butterfly Sushi Talay Viaggio Ristorante & Lounge La Cuchara Butterfly Sushi
W W Quincy St
The Betty
Vincezo's
W Madi
S Throop St
Grange Hall Burger Bar
S Laflin St
Maude’s Liquor Bar Vera
N Racine Ave
Aviary
Throop St
Next
W
71
Throop St
The Publican
nA ve
Au Cheval
de
Girl & the Goat
W Ca
Og
Nellcôte
N Bishop St
Graham Elliot Bistro
N Laflin St
City Winery
N Justine St
W Arbour Pl
ASHLAND AVE
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35
W
50 51 52 53 54 55 56
Salerno's Pizza French Market Sepia Bin 36 Trattoria Isabella Jefferson Tap Epic Burger
W GRAND AVE
N
Mi
ke
W Hubbard St
eA ve
W Kinzie St
W Kinzie St
74 73
Peoria St
W Monroe St
W Adams St
72
W Randolph St UNION STATION
N Jefferson St
N Desplaines St
Green St
N
Halsted St
ison St
W Randolph St
Sangamon St
N Morgan St
N Carpenter St
N Aberdeen St
N May St
77
W Lake St
Pegasus Greek Islands Rodity's Parthenon 9 Muses Bar & Grill Piccolo Sogno
W Madison St W Monroe St
W Jackson Blvd
W Van Buren St
Santorini
W Washington Blvd
W Adams St
W Jackson Blvd
57 58 59 60 61 62 63
R
75
76
VE
W Lake St
RI
W Fulton St
Fulton St
GO
W Wayman St
W Wayman St
CHICA
arroll Ave
N Canal St
Hubbard St
N Clinton St
lw au
W Van Buren St
64 65 66 67 68 69 70
Bombacigno's La Sardine High Five Ramen Lou Mitchell's Tap Works Tavern & Grill Jack's Tap Forno Rosso Pizza Napoletana
71 72 73 74 75 76 77
Alhambra Palace Embeya Avec Blackbird Grace The Lover, The Lunatic, The Poet Nando's Peri Peri Chicken
The West Loop Report速 | 33
N Noble St
N Armour St
stay
W GRAND A AC
310-31
W Hubbard St(P
W
W Kinzie St
N Loomis St
N Elizabeth Street
NOBU
846-854 W
W
Throop St
W Washington Blvd BED & BREAKFAST Throop St
W Madison St W Monroe
W Adams S W Quincy St W Cottage Pl
S Throop St
S Loomis St
1134 W WASHINGTON
N Aberdeen St
(PLAN
N May St
N Racine Ave
N Ada Street
de
W Fulton St
Og N Bishop St
S Laflin St
W Warren Blvd
34 | The West Loop Report速
W Carroll Ave
nA ve
N Laflin St
N Justine St
ASHLAND AVE
W Arbour Pl
W Jackso
W
N
AVE CE HOTEL
Mi
ke
PLANNED)
W Hubbard St
eA ve
W Kinzie St
W Kinzie St
on Blvd
W Van Buren St
Peoria St
HAMPTON INN &
W Randolph St HOMEWOOD SUITES UNION STATION
108 N JEFFERSON
(UNDER CONSTRUCTION)
N Jefferson St
St
St
N Desplaines St
210 N GREEN
Halsted St
Green St
Sangamon St
N Morgan St
N Carpenter St
W Randolph St
SOHO HOUSE
W Lake St
R
Lake St
NNED)
VE
W RANDOLPH
RI
HOTEL
GO
W Fulton St
CHICA
W Wayman St
W Wayman St
N Canal St
13 N MORGAN
N Clinton St
lw au
W Washington Blvd
W Madison St W Monroe St PROPOSED HOTEL
CROWNE PLAZA METRO HOTEL 733 W MADISON
590 W MADISON
W Adams St
(UNDER CONSTRUCTION)
W Jackson Blvd W Van Buren St
The West Loop Report速 | 35
36 | The West Loop Report®
N Noble St
N Armour St
N Loomis St
W Washington Blvd
W Madison St
Throop St
S Loomis St
Throop St
N Bishop St
Cat + Mouse Games Brew & Grow Ann James Beauty Supply Randolph Street Market Method Bicycle Dose Market
N May St
Og
de
W Fulto N Racine Ave
N Ada Street
N Elizabeth Street
W Carroll A
nA ve
N Laflin St
W Mo
W Ada W Quincy St W Cottage Pl
S Throop St
W Warren Blvd
S Laflin St
Gunzo’s Pure Hockey Ulta Red Mango GNC Mox Multisports B A Florist & Nursery Company Starbucks T-Mobile Game Stop Hair Cuttery CMM Framing Athenian Candle Co Target Veronica Sheaffer Custom Bridal Northwestern Cutlery Supply Tesa Cigar Co. Walsh Gallery Victoria Sdoukos Couture Bridal Boutique Victoria Vision Boutique Tribeca The Fig Tree Smitten Boutique Spex Tanner O’Connor Audio Consultants Alice Padrul Bridal Couture Natural Beauties 34 Billy Reid 35 Sherwin Williams 36 Walgreens 37 Paw Naturals 38 Verizon Wireless 39
W Arbour Pl
N Justine St
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33
W Hubba
W Kinzie St
ASHLAND AVE
SHOP
W GRA
40 41 42 43 44 45
J.P. Graziano Grocery Pagoda Red Archer Townsend Tesla Barnes & Noble CVS
WJ
AND AVE
N
Mi
ke
W Hubbard St
eA ve
W Kinzie St
W Kinzie St
W Randolph St UNION STATION
N Jefferson St
N Desplaines St
Halsted St
Green St
Sangamon St
N Morgan St
N Carpenter St
N Aberdeen St
St
W Lake St
Peoria St
onroe St
ams St
W Washington Blvd
W Madison St W Monroe St
W Adams St
Jackson Blvd
W Jackson Blvd
W Van Buren St
46 47 48 49 50 51
R
W Randolph St
VE
W Lake St
RI
W Fulton St
on St
GO
W Wayman St
W Wayman St
CHICA
Ave
N Canal St
ard St
N Clinton St
lw au
CVS CVS Carson's Walmart Bath & Body Works Garrett Popcorn
W Van Buren St
52 53 54 55 56 57
GNC SOS A. Bank Dakota Watch Company Primitive FIAT Yamaha The West Loop Report速 | 37
N Noble St
N Armour St
play
W GRAN
W Hubbard
W Kinzie St
38 | The West Loop Report®
N Elizabeth Street
Og
W Washington Blvd Throop St
N Bishop St
Throop St
S Loomis St
SKINNER PARK
W Madison St
W Monr
W Adam W Quincy St W Cottage Pl
S Throop St
W Warren Blvd
N May St
W Fulton S N Racine Ave
N Ada Street
N Loomis St
W Carroll Ave
de
nA ve
N Laflin St
UNION PARK
S Laflin St
West Loop Athletic Club Brooklyn Bowl Go Performance Johnny’s Ice House East Fitpro West Emerald Smoke MMA + Fitness Brooklyn Boulders Merit School of Music Crosstown Fitness Performance Training Systems CorePower Yoga BareFeet Yoga Pure Barre Wattage TWR Fitness Crossfit Curves On Your Mark FFC West Loop FFC Union Station Grip Fitness Union Station Crossfit
N Justine St
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22
ASHLAND AVE
W Arbour Pl
W Jac
N
ND AVE
Mi
ke
W Hubbard St
eA ve
W Kinzie St
W Kinzie St
ckson Blvd W Van Buren St
Peoria St
ms St
W Randolph St UNION STATION
N Jefferson St
N Desplaines St
Halsted St
Green St
Sangamon St
N Morgan St
N Carpenter St
N Aberdeen St
roe St
W Lake St
R
MARY BARTELME PARK
VE
W Randolph St
RI
W Lake St
GO
W Fulton St
St
CHICA
W Wayman St
W Wayman St
N Canal St
d St
N Clinton St
lw au
W Washington Blvd
W Madison St W Monroe St
W Adams St W Jackson Blvd W Van Buren St
The West Loop Report速 | 39
NEW FULTON MARKET DISTRICT SIGN
40 | The West Loop Report速
Sperry Van Ness速
recent news COMMERICAL RESIDENTIAL
Sperry Van Ness速
The West Loop Report速 | 41
Umami pushes Burger Boom to Fulton Market ChicagoBusiness.com http://www.chicagobusiness.com/realestate/20150512/ CRED03/150519952/umami-pushes-burger-boom-to-fulton-market
Tuesday Morning will Cover Two Fulton Market Office Proposals chicago.curbed.com http://chicago.curbed.com/archives/2015/03/02/tuesdaymeeting-will-cover-two-west-loop-office-proposals.php
London Firm to move office to Fulton Market Area ChicagoBusiness.com http://www.chicagobusiness.com/realestate/20150108/ CRED03/150109875/london-firm-to-move-office-to-fulton-marketarea
Rick Bayless pushes forward on mysterious Randolph Street project chicago.eater.com http://chicago.eater.com/2015/3/19/8252395/rick-baylessrandolph-street-plywood-construction
First Look at Sterling Bay’s Plan for the Harpo Studios Campus chicago.curbed.com http://chicago.curbed.com/archives/2015/06/01/harpo-studiosredevelopment-renderings.php
COMMERCIAL NEWS 42 | The West Loop ReportÂŽ
WLR Online @ www.thewestloopreport.com
Hoteliers head west to Fulton Market ChicagoBusiness.com http://www.chicagobusiness.com/article/20150214/ ISSUE02/150219943/hoteliers-head-west-to-fulton-market
Fulton landmarking issue moves on to City Council ChicagoTribune.com http://www.chicagotribune.com/business/breaking/ct-fultonmarket-landmark-recommendation-0514-biz-20150513-story.html
Nobu Hotel shrinks, as Ace developer shows its hand ChicagoBusiness.com http://www.chicagobusiness.com/realestate/20150122/ CRED03/150129934/nobu-hotel-shrinks-as-ace-developer-shows-itshand
Nobu hotel team pitches plan in West Loop ChicagoBusiness.com http://www.chicagobusiness.com/realestate/20140611/ CRED03/140619963/developers-pitch-nobu-hotel-plan-for-westloop
Emanuel backs Blackhawks’ plan for big UC practice facility ChicagoBusiness.com http://www.chicagobusiness.com/article/20150122/ BLOGS02/150129947/emanuel-backs-blackhawks-plan-for-big-ucpractice-facility
OTHER NEWS SVN Urban Real Estate Group
The West Loop ReportÂŽ | 43
fewer apartments, more green space pitched at carmichael’s site dnainfo.com http://www.dnainfo.com/chicago/20150512/west-loop/fewerapartments-more-green-space-pitched-at-carmichaels-site
neighbors split on support for 11-story west loop development dnainfo.com http://www.dnainfo.com/chicago/20150422/west-loop/ neighbors-split-on-support-for-11-story-west-loop-development
another apartment developer piles into west loop chicagobusiness.com http://www.chicagobusiness.com/realestate/20150415/ CRED03/150419919/another-apartment-developer-piles-intowest-loop
construction on curvy 29 story west loop tower kicks off chicago.curbed.com http://chicago.curbed.com/archives/2015/02/20/constructionon-28-story-west-loop-office-tower-kicks-off.php
related midwest plots west loop push www.chicagobusiness.com http://www.chicagobusiness.com/realestate/20150204/ CRED03/150209915/related-midwest-plots-west-loop-push
44 | The West Loop ReportÂŽ
WLR Online @ www.thewestloopreport.com
RESIDENTIAL NEWS SVN Urban Real Estate Group
The West Loop Report速 | 45
SOHO HOUSE - 113 N GREEN STREET
46 | The West Loop Report速
Sperry Van Ness速
developments DEVELOPMENT PIPELINE SUB-MARKET SNAPSHOT
Sperry Van Ness速
The West Loop Report速 | 47
Â
RESIDENTIAL Address
Developer
Units
Project
Stage Leasing (96%)
1
365 N Halsted
Fifield Companies
496
K2
2
4 N Aberdeen
Michigan Avenue Group
81
Madison Aberdeen Place
Fully Leased
3
1342 W Randolph
Tony Rue
20
1342 LLC
Fully Leased
4
723-29 W Randolph
EasyPark LLC
220
723 LLC
Proposed
5
123 N Desplaines
Marquette Companies
220
The Catalyst
Leasing (98%)
6
1226 W Madison
Fifield Companies
44
MOD Phase 2
In Construction
7
1164 W Madison
Ascend Real Estate
216
The Madison
Leasing (96%)
8
1 S Halsted
F & F Realty
514
1 S Halsted
Seeking Zoning Approval
9
1116 W Adams
JRG Capital Partners
69
CA on Adams
In Construction
10
765 W Adams
White Oak Realty
325
Arkadia
Leasing (33%)
11
601 W Jackson
Savoy Development
320
Jeff Jack Apartments
Leasing (85%)
12
200 S Green
F4 Consulting
60
Green & Jackson
Proposed In Construction
13
Madison & Green
Lennar Corporation
167
The Gateway
14
165 N Aberdeen
At Properties & MCZ Development
75
Aberdeen Lake, LLC
Proposed
15
1052 W Monroe
Michigan Avenue Group
120
1052 W Monroe
In Construction
16
922 W Washington
Circa 922
104
Circa 922
Leasing (90%)
17
Lake & Halsted
Shapack Partners
227
Lake & Halsted
In Construction
18
845 W Madison
John Buck Company
500
845 W Madison
Proposed In Construction
19
Madison & Throop
Michigan Avenue Group
72
Madison & Throop
20
Lake & Sangamon
FitzGerald Associates
81
Lake & Sangamon
Proposed
21
1241-45 W Jackson
Michigan Avenue Group
93
1241-45 W Jackson
Proposed
22
111 S Peoria
LG Development
205
111 S Peoria
Proposed
23
1002 W Van Buren
Michigan Avenue Group
26
Van Buren Morgan Place
Fully Leased
24
1035 W Van Buren
Related Midwest
432
1035 W Van Buren
Proposed
Total Units: 4,687
COMMERCIAL OFFICE Address
Developer
Square Feet
Project
Stage
1
645 W Madison
Hines Interests
500,000
Madison & Desplaines
Approved
2
625 W Adams
The Alter Group & White Oak Realty
490,000
625 West Adams
Approved
3
444 W Lake
Hines Interests
900,000
River Point
In Construction
4
150 N Riverside
O'Donell Investments
1,200,000
150 North Riverside
In Construction Completed
5
1000 W Fulton
Sterling Bay Companies
550,000
1 K Fulton
6
401 N Morgan
MAB Capital Management
88,000
Morgan MFG
Completed
7
210-20 N Green
Shapack Partners/Focus Development
83,000
WeWork Building
Completed
8
1330 W Fulton
Sterling Bay Companies
290,000
Fulton West
In Construction
9
310 N Peoria
D2 Realty
22,000
310 N Peoria
In Construction
10
110 N Carpenter
Sterling Bay Companies
488,000
Randolph West
Proposed
11
801-11 W Fulton
Shapack Partners
TBD
801-11 W Fulton
Proposed
12
221 N Peoria
Shapack Partners
TBD
221 N Peoria
Proposed
Total Square Feet: 4,611,000+
OTHER Address
Developer
Square Feet
Project
Type
Stage
1
108 N Jefferson
Jupiter Realty Company
372,000
Homewood Suites/Hampton Inn
Hotel
In Construction
2
1134 W Washington
SuperWayne Corporation
18,000
Bed & Breakfast
Hotel
In Construction
3
100 S Morgan
Brooklyn Boulders LLC
25,000
Brooklyn Boulders
Rock Climbing
Completed
4
832-56 W Fulton
DRW Holdings
60,000
Brooklyn Bowl
Bowling Alley
Proposed
5
846-54 W Randolph
Nobu Hospitality
80,000
Nobu
Restaurant/Hotel
Proposed
6
311 N Morgan
Sterling Bay Companies
165,000
Ace Hotel
Hotel
Approved
7
590 W Madison
Third Millenium Group
1,100,000
590 W Madison
Office & Hotel
Proposed
Total Square Feet: 1,820,000
48 | The West Loop ReportÂŽ
WLR Online @ www.thewestloopreport.com
RESIDENTIAL
the Madison
1050 - 1060 W Monroe
Lake and Halsted
COMMERCIAL
1000 w fulton
401 n morgan
210-220 n green
OTHER
1134 w washington
100 s morgan
832-856 W Fulton
DEVELOPMENT PIPELINE SVN Urban Real Estate Group
The West Loop Report速 | 49
N Noble St
N Armour St
W GRAND AVE W Hubbard St
C6
W Kinzie St
W Kinzie St
6
Throop St
20
W
2
W Monroe St 15
O3
W Adams St W Quincy St W Cottage Pl
S Throop St
S Loomis St
7
W Madison St
C10
N Carpenter St
N May St
14 N Aberdeen St
Throop St
N Bishop St
S Laflin St
N Racine Ave
Og
3
W Lake St
21
1
Sangamon St
W Fulton St
W Washington Blvd 19
C5
N Morgan St
N Elizabeth Street
N Ada Street
N Loomis St
C8
O2
W Warren Blvd
50 | The West Loop Report速
W Carroll Ave
de
nA ve
N Laflin St
N Justine St
ASHLAND AVE
W Arbour Pl
9
W Jackson Blvd W 23 St 24Van Buren
WLR Online @ www.thewestloopreport.com
Mi
ke
13 18
8
Peoria St
22
W Randolph St
5
UNION STATION
O1
N Jefferson St
N Desplaines St
16
Halsted St
Green St
W Randolph St
W Lake St
C1
R
4
O5
C3
VE
17
RI
C12 C7
W Fulton St
GO
C11
O4
CHICA
W Wayman St
W Wayman St C9
W Kinzie St
N Canal St
1
W Hubbard St
eA ve
N Clinton St
lw au
C4
W Washington Blvd
W Madison St W Monroe St
C2
12
10
W Adams St W Jackson Blvd
11
W Van Buren St
DEVELOPMENT PIPELINE MAP SVN Urban Real Estate Group
The West Loop Report速 | 51
office outlook The West Loop has seen unprecedented OFFICE LEASING RATE GROWTH in the first half 2015, as companies relocate from the Loop, River North and suburban submarkets. Tenants are seeking close proximity to public transportation and the local entertainment and dining scene. While new Class A offices are under construction on the Chicago River and others are in the planning phase, the historic loft office inventory remains low. Rental rates continue to rise due to steady demand by tenants in the face of limited inventory. Overall, current West Loop office gross asking rental rates are averaging $31.13 per square foot per year with a vacancy rate of 11.3 percent. However, these average numbers are skewed by a few large office towers and do not tell the whole story. Focusing only on buildings under 100,000 square feet reveals a gross asking rental rate of $24.62 per square foot per year with vacancy of 9.9 percent. Creative and tech companies seeking a more casual work environment have driven the demand for these smaller historic timber and brick loft buildings, resulting in steeply rising rental rates from an average of only $18 per square foot in 2013. There are multiple new West Loop office buildings under construction or in the planning phase. Over 100 stories of additional Class A office space is under construction along the river at 444 W Lake and 150 N Riverside. Also between the river and the freeway, three other office developments await anchor tenants to
52 | The West Loop Report®
begin construction at 625 W Adams, 645 W Madison, and the recently announced 590 W Madison. Further west, new offices are planned in Fulton Market at 165 N Aberdeen, 801-811 W Fulton, 221 N Peoria and 1330 W Fulton potentially adding up to an additional One Million square feet of new office space to the neighborhood over the next few years. However, most of this new square footage will be created in a few large scale developments including Sterling Bay’s proposed developments at Fulton West and Randolph West. The Fulton Market Innovation District’s land use plan and the City of Chicago’s proposed landmark ordinance and will continue to restrict the new office supply due to historic preservation concerns and size restrictions on new developments. Over the next 12 months, we expect rental rates to continue to climb, although the rate of increase will not be as large as the explosive growth seen in 2013 and 2014. As Google’s much heralded occupancy draws near at 1K Fulton, tech companies will continue to scour the area for available space, with more traditional office users starting to consider the West Loop as a viable option for the first time as the neighborhood matures. Increased residential development will also help companies attract and retain younger employees who prefer to live in an urban setting within walking distance of entertainment options and a short distance from work.
R ENT
11.9
13.5
$317 $280 $31.136.2% 11.3% MONTHS
VACANCY RATE ON PRICE MARKET SKINGRENT PRICEPER SQ. FT. ASKING
ER SQUARE FOOT
$
80
60
$
$ 380
360
360
Vacant Office SF 2,965,659
$
$
36
36
40
340
340
34
34
20
320
320
32
32
00
300
300
30
30
80
280
280
60
260
260
40
240
240
20
220
00
200 200
80
180
220
11
‘10
180
‘10
‘12
28
28
26
26
24
‘10‘11 ‘11 ‘11‘12 ‘12 ‘12 ‘13 ‘13 ‘13 ‘14 ‘13 ‘14 ‘11 ‘12 ‘13 ‘15 ‘14
20‘14
ON MARKET
$
$
36
36
34
34
34
32
32
32
30
30
30
28
28
28
26
26
26
24
24
24
22
22
22
20
20
‘15
‘1520
20
‘11
‘10
‘10
‘12
‘10
‘10‘11 ‘11 ‘11‘12 ‘12 ‘12 ‘13 ‘13 ‘13 ‘14 ‘13 ‘14 ‘11 ‘12 ‘13 ‘15 ‘14
$
$
$
26
26
26
24
24
24
24
22
22
22
22
20
20
20
18
18
18
22
20
20
18
18
16
16
16
‘10
‘11
16
‘10
‘10
16
‘12
11%
11%
10%
10%
10%
9%
9%
9%
8%
8%
8%
7%
7%
7%
11%
10%
10%
9%
9%
8%
8%
7%
7%
‘14 6%
‘15 ‘15 ‘14 ‘15 ‘10
‘15 6%
‘10
‘10‘11 ‘11 ‘11‘12 ‘12 ‘12 ‘13 ‘13 ‘13 ‘14 ‘13 ‘14 ‘11 ‘12 ‘13 ‘15 ‘14
Gross Gross Asking Gross Asking Rent Asking Per Rent SF Rent Per ($) SF Per($) SF ($) Gross Asking RentGross Per SFAsking ($) < 100k Rent<S.Per 100k F.<SF 100k S.($) F. S. F. < 100k S. F. < 100k S. F.
‘14
‘15 ‘14 ‘15
‘15
16%
16%
16%
16% 15%
15%
15%
15%
15%
14%
14%
14%
14%
14%
13%
13%
13%
13%
13% 12%
12%
12%
12%
12%
11%
11%
11%
11%
11% 10%
10%
10%
10%
10%
9%
9%
8%
8%
‘15 7%
9%
9%
9%
8%
8%
8%
7%
7%
7%
‘10
7%
‘10
6%
6%
‘11
‘10
‘10
6%
‘12
‘10
‘10‘11 ‘11 ‘11‘12 ‘12 ‘12 ‘13 ‘13 ‘13 ‘14 ‘13 ‘14 ‘11 ‘12 ‘13 ‘15 ‘14
‘14
‘15 ‘14 ‘15
Vacancy Vacancy Rate Vacancy (%) RateRate (%) (%) Vacancy Rate (%) Vacancy Rate (%)
16%
26 24
11% 11%
NNN Asking NNNNNN Asking Rent Asking Per Rent SF Rent Per ($) SF Per($) SF ($) NNN Asking Rent NNN Per SFAsking ($) Rent Per SF ($)
$
26
Available Office SF 4,949,812
22
‘15 ‘14 ‘15 ‘10
Gross Gross Asking Gross Asking Rent Asking Per Rent SF Rent Per ($) SF Per($) SF ($) ross Asking RentGross Per SFAsking ($) Rent Per SF ($)
$
$ 36
24
22
‘10
VACANCY RATE
PER SQUARE FOOT
Total Office SF 26,281,325
380
MONTHS
‘11
‘10
‘10 ‘12
‘10‘11 ‘11 ‘11‘12 ‘12 ‘12 ‘13 ‘13 ‘13 ‘14 ‘13 ‘14 ‘11 ‘12 ‘13 ‘15 ‘14
‘14
‘15 ‘14 ‘15
‘15
‘15
Vacancy Vacancy Rate Vacancy (%) RateRate (%) (%) Vacancy Rate (%) Vacancy Rate (%) < 100k <S.100k F.< 100k S. F. S. F. < 100k S. F. < 100k S. F.
*Statistical Information obtained from CoStar Group
SUB-MARKET SNAPSHOT SVN Urban Real Estate Group
The West Loop Report® | 53
‘15
‘15
retail outlook The West Loop continues to see UNPRECEDENTED RETAIL GROWTH in the first half of 2015. This growth has been predominantly lead by the hospitality industry with a continued influx of worldclass restaurant operators. Soft goods retailers including clothing and service retail tenants are also starting to expand into the area. Development of high profile office, hotel, and residential properties is creating increased pedestrian foot traffic leading to increased retail development. Currently, the overall West Loop retail asking rental rates for the first two quarters of 2015 had an average of $37.13 per square foot Net with a vacancy rate of 6.2%. However, asking rental rates on the two main retail corridors on Randolph Street and Fulton Market are now seeking rental rates between $60 and $70 per square foot.
of that is located in Fulton Market including of several notable developments including Sterling Bay’s Randolph West, Fulton West and 1K Fulton properties. Shapack Partners new developments at 801 W. Fulton and 223 N. Peoria and Madison Capital’s redevelopment of a three building portfolio on Fulton and Carpenter round out the new Fulton Market retail offerings. The greater West Loop will continue to see steady growth in retail rental rates and Fulton Market will continue to see explosive growth based on the high demand for retail properties on Fulton Market and Randolph Street with limited supply. Due to the increasing mix of office and retail workers, new residents and hotel occupants in the neighborhood, a more diverse mix of retail uses will be in demand, creating opportunities beyond the recent wave of new restaurants.
There is over 325,000 square feet of newly available or currently planned retail space in the West Loop. Over 200,000 square feet
West Loop Report http://www.thewestloopreport.com
54 | The West Loop Report®
Sperry Van Ness Urban Real Estate Group http://www.svn.com
WLR Online @ www.thewestloopreport.com
R ENT
R ENT
13.5
$317 6.2% 11.3% $280MONTHS $31.13
$37.13 RENT
PER
SQ. FT.
ASKING PRICE RENT PER SQUARE FOOT
Total Retail SF 4,165,782
$
$
$
$
$
34
300
300
300
280
280
280
32
32
260
260
260
30
30
240
240
240
220
220
220
200
200
200
180
180
180
160
160
160
28
28 26
24
24
22
22
20
‘10
20
‘10
‘10 ‘11
‘11
‘11 ‘12
‘12
‘12 ‘13
‘13
‘13 ‘14
GrossGross Asking Rent Per SF Per($)SF ($) Gross Asking Rent Asking Per SF Rent ($)
‘14 ‘15‘14
‘15
ON MARKET VACANCY RATE PRICE VACANCY RA ASKING SQ. FT. PER SQUARE FOOT
Vacant Retail SF 258,379
34
26
PER
‘15
140
140
140
120
120
120
100
100
100
80
80
80
‘10
‘10
‘10 ‘11
‘11
‘11 ‘12
‘12
‘12 ‘13
‘13
‘13 ‘14
Price Per SF Per($)SF ($) Asking Asking PriceAsking Per SFPrice ($)
‘14 ‘15 ‘14
Available Retail SF 326,979
‘15
‘15
13%
13%
13%
12%
12%
12%
11%
11%
11%
10%
10%
10%
9%
9%
9%
‘10
‘10
‘10 ‘11
‘11
‘11 ‘12
‘12
‘12 ‘13
‘13
‘13 ‘14
‘14 ‘15 ‘14
(%) (%) Vacancy VacancyVacancy Rate (%)Rate Rate
*Statistical Information obtained from CoStar Group
SUB-MARKET SNAPSHOT SVN Urban Real Estate Group
The West Loop Report® | 55
‘15
‘15
“MISTING SCULPTURE” IN MARY BARTELME PARK - 115 S SANGAMON ST Photo Courtesy of JenRL Design
56 | The West Loop Report®
Sperry Van Ness®
information BACKGROUND AND EXPERIENCE SOLD PROPERTIES LEASED PROPERTIES
Sperry Van Ness速
The West Loop Report速 | 57
Scott Maesel scott.maesel@svn.com
S
cott R. Maesel serves as Managing Director for Sperry Van Ness, LLC in Chicago’s West Loop. With over 20 years of industry experience, Maesel is a highly regarded Chicago commercial real estate veteran. Early in his career, Scott worked for Glascott & Associates and Garrett Realty & Development prior to co-founding the highly successful commercial division of Sussex & Reilly Real Estate. In 2008, he affiliated his own independent boutique company with Sperry Van Ness, an International Investment Real Estate Company. By 2013, he and his partners expanded the business to include over 40 Advisors, servicing all commercial product types both locally and nationally, as well as the creation of a Property & Asset Management division, SVN Crossroads Property Management, with approximately 2 million square feet under assignment.
Drew Dillon drew.dillon@svn.com
D
rew Dillon serves as an Associate Advisor for Sperry Van Ness specializing in the sale and leasing of retail, office, and industrial property in Chicago’s West Loop. With over two years of commercial real estate experience, he has secured and worked on transactions that include retail, hospitality, office, and industrial sales. He also serves as the tenant representation for a multi-state retail clothing store. Drew is active in property development and assists in the conversion of meatpacking buildings for re-adaptive uses. Drew also owns and manages a residential rental building in Arizona. Specializing in transactions in Chicago’s West Loop, Drew has expert level market knowledge of the area which he leverages to provide the best services for his clients’ needs.
Scott has positioned himself as a definitive West Loop Commercial Property Expert over the last several years. His encyclopedic knowledge of the neighborhood has helped his clients buy, sell, and lease more real estate in the West Loop than any of his competitors.
Prior to joining Sperry Van Ness, Drew Dillon attended The University of Arizona where he earned a degree in Geography and Regional Development with an emphasis in Real Estate Acquisition and Development with a minor in Business.
Scott is President of the Advisory Council for the highly acclaimed Mary Bartleme Park in the West Loop, and was recently named to The West Loop Organization’s Board of Directors. He is a West Loop business and commercial property owner as well as a resident with his wife and young twins.
Drew enjoys traveling as well exploring Chicago. He has a passion for neighborhood revitalization and constantly works to improve the city in which he lives.
BACKGROUND AND EXPERIENCE 58 | The West Loop Report®
WLR Online @ www.thewestloopreport.com
Chad Schroedl chad.schroedl@svn.com
Adam Thomas adam.thomas@svn.com
C
A
Focusing on the sale and leasing of office property in the Chicago Loop, West Loop, River North and surrounding neighborhoods, Chad has completed more than $10 million in office lease transactions in Chicago representing both tenants and landlords.
Adam also specializes in property analysis and marketing, which serves the best interests of clients when evaluating real estate values and completing real estate transactions.
had Schroedl serves as an Advisor for SVN Chicago Commercial and as an Office Specialist for the Urban Real Estate Team.
With a comprehensive real estate background including experience in land use, zoning, real estate development and green building, Chad has worked on complex projects involving condo-hotels, Native American lands, airport authorities, environmental impact statements, planned mass transit corridors, and negotiated multimillion dollar office developments. Chad has earned a Bachelor of Science from the University of Wisconsin-Madison and a Juris-Doctorate from the University of San Diego School of Law. He is a licensed attorney in the State of Illinois and a member of the Chicago Bar Association.
Adam Thomas serves as an Associate Advisor for SVN Chicago Commercial and as a member of its Urban Real Estate Team, focusing on the leasing and sale of retail property and land in Chicago’s West Loop neighborhood.
His role on the Urban Real Estate Team includes property research, generating marketing materials, gathering sales comparable analytics, preparing Broker Opinions of Value, and conducting showings. Adam leverages these skills in order to increase the group’s efficiency and to help it achieve maximum value for its clients. Adam is currently earning a Bachelor’s degree in Finance, while minoring in Real Estate at DePaul University. Prior to attending DePaul, Adam played hockey in the North American Hockey League. Growing up in Chicago’s suburbs, Adam has always had a passion for Chicago’s fine architecture and strives to make a positive impact on its developing neighborhoods.
Sperry Van Ness Urban Real Estate Group
http://www.svn.com
the svn urban real estate team SVN Urban Real Estate Group
The West Loop Report® | 59
740 W RANDOLPH
935 W RANDOLPH
1328 W RANDOLPH
December 2011
January 2012
723-29 W RANDOLPH
945-55 W FULTON
817 W LAKE
1249 W LAKE
1100 W RANDOLPH
833 W WASHINGTON
September 2011
December 2012
September 2013
60 | The West Loop Report速
December 2012
October 2013
March 2013
October 2013
WLR Online @ www.thewestloopreport.com
917 W RANDOLPH
923 W RANDOLPH
170 N HALSTED
October 2012
November 2012
217 N CARPENTER
210 N GREEN
808 W LAKE
July 2013
September 2013
1229 W JACKSON
1415 W RANDOLPH
1114 W RANDOLPH
August 2012
March 2013
November 2013
December 2013
December 2013
SOLD PROPERTIES
by svn urban real estate team
SVN Urban Real Estate Group
The West Loop Report速 | 61
1415 W RANDOLPH ST
December 2013
1332 W LAKE December 2013
171 N HALSTED March 2014
729 W LAKE March 2014
SOLD PROPERTIES 62 | The West Loop Report速
WLR Online @ www.thewestloopreport.com
1025 W MADISON
657 W LAKE
March 2014
March 2014
819 W FULTON
813 W FULTON
221 N GREEN
November 2014
November 2014
825 W FULTON
212 N ADA
September 2014
821 W FULTON November 2014
November 2014
736 W RANDOLPH April 2014
November 2014
SOLD PROPERTIES
by svn urban real estate team
SVN Urban Real Estate Group
The West Loop Report速 | 63
800-808 W RANDOLPH
940 W ADAMS
1046 W FULTON
Au Cheval Lone Wolf
O’Kelly + Kasprak
1222 W MADISON
24 S MORGAN
1046 W FULTON
Athletico
MK Gallery
833 W WASHINGTON
312 N MAY, UNIT 6A
Talay Tai Restaurant
736 W RANDOLPH The Lover, The Lunatic & The Poet
64 | The West Loop Report®
Office Lease
Homey Gallery
AttorneyFee
(a subsidiary of LegalZoom)
WLR Online @ www.thewestloopreport.com
112 S SANGAMON
948 W FULTON
Blue Leaf Lending Jump Forward RIVS.com
Rethink Studios Climate Corp
935 W RANDOLPH
310 N PEORIA
Floyd’s 99 Barber Shop W Marketing
1010-1014 W MONROE Grit Multisports West Point Cleaners
1164 W MADISON Pure Barre Freshii Snipet’s
The Mill Visual Effects Company
310 N PEORIA
The Mill Visual Effects Company
1140 W MADISON Appiphony
621 W RANDOLPH Clopton Capital
LEASED PROPERTIES
by svn urban real estate team
SVN Urban Real Estate Group
The West Loop Report® | 65
The West Loop is one of the best neighborhoods in the city to integrate modern living with the history of the community.
Copyright Š 2015 The West Loop Reportâ&#x201E;˘ All Rights Reserved. Published by Urban Real Estate Team and Sperry Van Ness