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    738 Randolph St Chicago, IL 60607

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    For Sale
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    Chicago Restaurant, 8,000 SF

    Property size:
    8,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    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.

    Property Features for 738 Randolph St

    General Information

    Property type
    Restaurants
    Square Feet
    8,000 SF

    Building Details

    Stories
    2

    HighLights

    • Rare two‑story building for sale in Chicago's West Loop.
    • Excellent investment or owner‑user opportunity; currently leased to a restaurant.
    • Prime location at the gateway of Randolph Street in the Meatpacking District.
    • High‑traffic area, attracting customers citywide and nationally.
    • Surrounded by renowned restaurants, major corporations (McDonald's HQ, Google), and luxury hotels (Soho House, Hoxton, Nobu).
    • Exceptional visibility near new high‑rise hotels (Equinox).
    Property Profile Location Intelligence

    Current Use by Public Records

    KOMO Japanese Restaurant

    Suggested Use

    Spa & Massage Realty agency Dental Office Hair Salon Restaurant Nail Salon Daycare Center Clothing Store Building Supply Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.650714
    Latitude
    41.8733696

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    FAQs

    What type of property is this?
    Restaurant - Chicago Restaurant, 8,000 SF
    Where is this restaurant located?
    The property is located at 738 Randolph St Chicago, IL.
    What are key features of this property?
    This property features: Rare two-story building for sale in Chicago's West Loop.; Excellent investment or owner-user opportunity; currently leased to a restaurant.; Prime location at the gateway of Randolph Street in the Meatpacking District.
    Request Owner's contact information
    738 Randolph St Chicago, IL 60607
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    738 Randolph St Chicago, IL 60607
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