Foundational Real Estate Acquires Mixed-use Property At 1012 West Randolph Street For $4.05M

The property asset involved in this transaction is a fully leased mixed-use building situated at 1012 West Randolph Street in Chicago, Illinois. The property features a total square footage of 6,500 and was sold for $4,050,000, translating to a price per square foot of $623. It comprises a ground-floor retail space that is currently leased to Rōti Modern Mediterranean, along with three residential apartments, showcasing the ongoing demand for stabilized assets in the Fulton Market area.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $4,050,000
• Address: 1012 West Randolph Street
• Market: Chicago, IL
• Square Footage: 6,500
• Price per Square Foot: $623
• Buyer: Foundational Real Estate
• Brokers: Danny Spitz & Tom Galvin - Greenstone Partners

Greenstone Partners facilitated the transaction, successfully brokering the sale with Los Angeles-based Foundational Real Estate acquiring the mixed-use asset. The individuals involved in the brokerage were Danny Spitz and Tom Galvin, who represented the deal's negotiating aspect, contributing to the smooth execution of this business transaction.