SOLD
Roget Lerner Acquires Office Building In Chicago's Fulton Market For $5.35M
345 North Loomis Street
Office
60,000 SF
60,000 SF
Sold 58 days ago
Summary
Sale
ILLINOIS
Office
60,000 sqft
The property involved in the transaction is located at 345 North Loomis Street in Chicago, IL. This office asset spans 60,000 square feet and was sold for $5,350,000, translating to a price per square foot of $89.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $5,350,000
- Buyer: Roget Lerner
- Square Footage: 60,000
- Market: Chicago, IL
The Music Building, in conjunction with Smash Studios, has successfully acquired the property at 345 North Loomis in Fulton Market, Chicago. This building, formerly known as the Music Garage, comprises 105 monthly music rehearsal studios, with a remarkable 98% occupancy rate at the time of the sale. Additionally, there are 10 hourly studios that will be managed by Smash, signifying a strategic move in the music industry.
Details
SOLD
IMAGE: Clay Sheff, Roget Lerner & Jack Lerner
DATE: 03/28/2024
ADDRESS: 345 North Loomis Street
MARKET: Chicago, IL
ASSET TYPE: Office
BUYER: Roget Lerner - The Music Building
SALE PRICE: $5,350,000
SF: 60,000 ~ PPSF: $89
NOTE FROM BUYER:NOTE FROM BUYER: The Music Building, in a collaboration with Smash Studios, has acquired 345 North Loomis in Fulton Market, Chicago. The 60,000 sf building, formerly known as the Music Garage, has 105 monthly music rehearsal studios, 98% occupied at closing, and 10 hourly studios to be operated by Smash.
The acquisition is in memory of Jack P. Lerner, founder of the world famous Music Building in Manhattan in 1979 and a 50 year veteran of NYC commercial real estate brokerage, who passed away one week prior to the closing.View on map
Loading...
Address345 North Loomis Street
Comparables
Reset filters to show results.