738 Randolph StChicago, IL 60607

Property Details for 738 Randolph St

Year built

1892

Lot size

0.07 AC

Property size (Sq ft)

4,534 SF

Property type

Retail space

Property subtype

Storefront properties

APN

17-09-319-002

APU

1709319002

Description

This exceptional two-story, 8,000 square foot restaurant building is located at 738 W Randolph St in Chicago's vibrant West Loop, at the gateway to Restaurant Row. Currently occupied by a restaurant tenant, this property presents a rare investment or owner-user opportunity. Situated in a prime location, it benefits from unparalleled visibility and high traffic counts on Randolph Street, a premier destination in the Meatpacking District. The area boasts renowned restaurants, major corporations (including McDonald's headquarters, Google, and Soho House), and numerous hotels, including the Nobu Hotel and the upcoming Equinox Hotel. The property's proximity to major transit lines, expressways, and the Chicago Loop further enhances its appeal. Its DX-5 zoning allows for diverse commercial uses, including restaurants, offices, and showrooms. The 2021 property taxes were $46,092.14. This is an exceptional opportunity to own a thriving commercial property in one of Chicago's most dynamic neighborhoods. The surrounding area is experiencing unprecedented development, ensuring continued growth and high demand. This property offers amazing exposure and visibility, making it an ideal investment for discerning buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $2,141,934

  6.5%

  $1,977,170

  7%

  $1,835,944

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,488,195

  Geo Method

  $1,488,195

• Alternative Use

  Use

  Valuation

  Residential

  $1,667,817

  Hospitality

  $1,527,712

  Educational

  $1,271,038

  Medical

  $1,314,751

  Retail

  $1,977,170

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.8848

Longitude

-87.6472

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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