November 7, 2019
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.
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