112 N May Street

Highlights:

• Highly desirable heavy timber loft building with parking
• Value-add opportunity with completion of lease-up
• Located one block from McDonald's Global HQ
• Future development potential on parking lot or entire footprint
• Building anchored by international digital signage company Coates Group
• Coates has 10 parking spaces included in their rent

Description:

This value-add property benefits from in-place income as well as the ability to increase revenue through completion of lease-up. The property is walking distance from the CTA Morgan station and Metra/Amtrak at Union State or Ogilvie Transportation Center. The property also includes a total of 26 parking spaces in the adjacent lot. The building is surrounded by high-profile corporate headquarters, such as McDonald's and Google, as well as numerous large-scale developments.

Fulton Market is Chicago’s former warehouse district and is among the most rapidly developing neighborhoods in the country and recently ranked by TimeOut as one of the top 20 coolest neighborhoods in the world. Originally a mix of factories, meat markets, and wholesale produce outlets, the neighborhood has seen a major demographic shift over the last decade. The historic brick and timber loft buildings that define the neighborhood have largely been converted to other uses, including a mix of luxury
condos, creative offices, art galleries, critically acclaimed restaurants, hotels, and retail boutiques.

The area has evolved into a must-see destination for locals and visitors. With new restaurant concepts opening on almost a weekly basis, the area boasts everything from Randolph Street’s Restaurant Row, nine Michelin Star Restaurants, sixteen Michelin Recognized Restaurants and some of Chicago’s most desirable shopping (Lululemon, Uncommon James, Billy Reid, Anthropologie, Allbirds, Free People, among others).

The neighborhood’s international reputation continues to grow with the expansion of Google’s Midwest headquarters, and the opening of McDonald’s Global headquarters, Soho House hotel, Nobu Restaurant and hotel, Hoxton hotel, the We Work co-working building, Punch Bowl Social and The Emily Hotel. Other companies calling the Fulton Market home include Uber, Ernst & Young, WPP, LinkedIn and Twitter.

Excellent public transportation options including Metra train access at Ogilvie and Union Station combined with one of the city’s newest CTA stations with an annual ridership of almost 1 million passengers yearly. The Morgan and Lake station will continue to attract businesses and residents alike, making the Fulton Market one of Chicago’s most exciting and desirable neighborhoods.

Documents: