November 7, 2019 Comments (0) Views: 328 Chicago News, Downtown

Fulton Market Apartments Sell at Upper End of Area Pricing

Cushman & Wakefield brokered the $40,150,000 sale of 13thirteen Randolph Street Lofts, a 74-unit mixed-use property in the West Loop’s Fulton Market District. The per-unit price is one of the highest paid so far this year in Fulton Market, according to CoStar data.

Todd Stofflet and Jason Stevens, managing directors of Cushman & Wakefield’s Midwest Multifamily Advisory Group, represented the seller, JP Morgan Asset Management, in the sale of the property to RDG Funds LLC, a Chicago-based private equity firm.

“As leading employers continue to establish and expand operations in the West Loop, demand for well-located rental communities like 13thirteen Randolph will increase as development pushes farther west,” said Stofflet.

13thirteen Randolph includes two buildings: a three-story concrete building at 1313 W. Randolph, built in 1927 and designed by Fox & Fox Architects in the Art Deco style, and 114 N. Elizabeth, a two-story building built in 1892.

Connect With Cushman & Wakefield’s Stofflet

Connect With Cushman & Wakefield’s Stevens

Subscribe to Connect Daily Chicago

For comments, questions or concerns, please contact Paul Bubny

Tags: ,

Comments are closed.

Send this to a friend