Chicago-based Baum Realty Group, LLC announced that its Investment Sales Team facilitated the sale of the ground floor retail at 1000 W. Washington Blvd., located in Chicago’s red-hot Fulton Market / West Loop neighborhood.
The buyer, a partnership between R2 and Marc Realty Capital, paid $7.25 million for the property. Existing tenants include the classic French restaurant La Sardine, and Subway.
The property has approximately 24,000 square feet of ground floor space and also includes ten parking spaces. The former Flat Top Grill (3,500 square feet) at the corner of Washington Boulevard and Carpenter Street is vacant as is a 14,500 square foot contiguous space at the corner of Washington Boulevard and Morgan Street.
Danny Spitz and Greg Dietz, both managing directors of Baum’s Investment Sales division, represented the seller, a local developer. Additionally, Baum brokers Doug Renner and Trevor Jack have been retained by the new owners to identify prospective tenants for the vacant suites.
“At the micro level, having McDonald’s global headquarters next door to 1000 W. Washington Street will be a key driver in attracting tenants, but the wider Fulton Market / West Loop growth story has an equally influential impact, with nearly 5,000 proposed new residential units,” Dietz said.