5/16/2023 0 Comments 1313 w randolphCity Winery, a restaurant and music venue, is just a block east of 1313 Randolph. Though the Google move has added legitimacy to the neighborhood as a corporate location, the area has been a dining and entertainment mecca for a long time, with restaurants including Girl and the Goat, Next and Au Cheval. The question is how much higher prices can go given an expected slowdown in rent growth and construction boom that is forecast to add more than 6,000 apartments to the downtown market by the end of 2015.ġ313 Randolph is just a couple blocks north of a 216-unit apartment building being developed by Chicago-based Ascend Real Estate Group LLC. Investors have paid up for Chicago apartment buildings the past couple years amid high occupancies and rising rents. Martin, now an executive at Chicago-based Pritzker Realty Group LLC, did not respond to an email. Martin on the conversion project in 2011, paying $8.1 million for the 130,000-square-foot building and borrowing $12.9 million to finance the development, county property records show.Īn Ares spokesman declined to say how much the venture spent on the project, but an Area executive said in 2011 that it would cost between $12.5 million and $15 million. New York-based Area Property Partners, which Ares acquired last year, teamed up with Mr. JP Morgan declined to comment on the acquisition. “It's becoming a viable institutional market over there.” “That speaks to what's going on in the West Loop,” Mr. bank, also shows that the neighborhood is starting to attract the interest of big investors that normally don't stray too far beyond downtown Chicago or the safest suburbs. The buyer, a unit of New York-based JP Morgan Chase & Co., the largest U.S. “Everybody's scrambling to stake out their space there.” See 4 floorplans, review amenities, and request a tour of the building today. 1313 Randolph Street Lofts is located at 1313 W Randolph St, Chicago, IL 60607 in the West Town neighborhood. Do not send money to anyone you don't know. 1313 Randolph Street Lofts offers Studio-2 bedroom rentals starting at 2,225/month. “After (the Google) announcement, we've seen a multiplier effect,” said Ron DeVries, vice president of Appraisal Research Counselors, a Chicago-based consulting firm. 1313 W Randolph St is located in Chicago, Illinois in the 60607 zip code. Search commercial properties for sale or lease, find investment properties, view commercial real estate comparables, research market trends, market your commercial listings and more. The neighborhood has become one of the hottest in the city, known best for its trendy restaurants but more recently as the future Chicago home of Google Inc. LoopNet is the largest commercial real estate listing service online. The price is so high - about $439,000 a unit - partly because the building includes about 31,000 square feet of retail space, but it also reflects the increased investor demand for properties around West Randolph and Fulton streets. last month, Cook County property records show. The joint venture between and Los Angeles-based Ares Management LLC and local investor Seth Martin sold 1313 Randolph Street lofts, a building at 1313 W. You'll appreciate the theater room and luxury rooftop featuring flat screen TVs and an outdoor grilling station with stunning views of the Chicago skyline! Energize yourself in the brand new fitness center, and for those who occasionally have to bring their work home, there's access to our internet cafe and lounge.A development venture that converted a West Loop warehouse into 74 high-end apartments sold the property for $32.5 million, another sign that investors are taking note of the neighborhood's renaissance. Here, you'll be within walking distance of Chicago's thriving Randolph Street entertainment, restaurants and Fulton district. Combined with exposed concrete flooring, Italian cabinets, upgraded stainless appliances, quartz countertops, and modern finishes throughout, you'll know you found the perfect home! That's just inside your home. Choose from spacious studio, one- and two- bedroom lofts with 11 foot ceilings and thoughtfully designed layouts. Spend warm Chicago summer days on the pool deck or entertain. This apartment is located at 1313 W Randolph St 318, Chicago, IL. With an art deco exterior and brand new interior, 1313 Randolph Street Lofts stands apart from the rest. Find your new home at 1313 W Randolph St located at 1313 W Randolph St, Chicago, IL 60607. Brand new lofts in the West Loop! Live the lifestyle you deserve at 1313 Randolph Street Lofts.
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