657 W Fulton St

Highlights:

• Highly desirable Fulton Market corner retail condo property with excellent exposure located at the base of a luxury condo development.
• Fully stabilized, low maintenance and easy to manage STNL investment opportunity leased to international daycare operator Kids & Company with 170 locations throughout the United States and Canada.
• 15 year initial lease term with over 8 years remaining, scheduled annual rent increases and one 5-year renewal option at the then Market Rent.
• 5,142 SF commercial condo also includes three (3) deeded parking spaces.
• Surrounded by recently announced high-profile Fulton Market HQs including Google, McDonald’s, WPP, Tik Tok, Ernst & Young, John Deere, Aspen Dental, Kimberly-Clark, Tock, CCC, MoLo Solutions, Chan-Zuckerberg Biohub and more.
• In the immediate vicinity of high density luxury residential existing/planned/under construction projects.
• Easily accessible to public transportation via Clinton CTA Station.
• Easy access to/from I-90/94.

Description:

The ground floor corner retail condo located at 657 W Fulton Market offers a prime investment opportunity with high visibility at the base of a 75-unit condo development. The property is 100% leased to the international daycare operator Kids & Company, which has 170 locations across the U.S. and Canada. The lease has over 8 years remaining on a 15-year initial term, with scheduled annual rent increases and a 5-year renewal option. The 5,142 SF commercial condo includes three deeded parking spaces and is surrounded by major corporate headquarters and luxury residential developments. The property benefits from excellent transportation access via the Clinton CTA Station and nearby I-90/94.

The West Loop / 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 West Loop 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 West Loop one of Chicago’s most exciting and desirable neighborhoods.

Documents: