- For Sale Subject to Offer
- Property Type Multi-Family
- Property Size 41,356 SF
- Units 23
- Lot Size 0.24 Acre
- Parking Spaces Avail. 19
- Property Tenancy Multi-Tenant
- Year Built 2013
- Year Renovated 2017
- Date Updated Oct 19, 2026
Description
CHICAGO’S PREMIER LIVE-WORK-PLAY DISTRICT
Once Chicago’s historic meatpacking and wholesale district, the West Loop and Fulton Market have evolved into one of the city’s most dynamic mixed-use neighborhoods. It combines corporate headquarters, high-end residential development, nationally recognized dining, luxury fitness, distinguished retail brands and entertainment within a highly walkable urban environment.
PREMIER DINING DESTINATION
The neighborhood has become synonymous with Chicago’s restaurant scene, anchored by nationally recognized destinations including The Smyth, Rose Mary, Ever Restaurant, Nobu, Gibsons Tavern and more. The concentration of acclaimed dining, cocktail lounges and nightlife has established Fulton Market as a destination rather than simply a neighborhood amenity.
CORPORATE & EMPLOYMENT HUB
Fulton Market has emerged as one of Chicago’s most desirable office locations, attracting major employers including Google, McDonald’s, Mondelēz, John Deere, WPP, Boston Consulting Group, Kimberly-Clark, Roku, Dyson, Sidley Austin, Baker Tilly and more. The submarket had the lowest vacancy rate among Chicago CBD submarkets.
LUXURY LIFESTYLE & RETAIL
Fulton Market increasingly caters to an affluent resident and employee base with premium brands and services including Equinox, Reformation, Madewell, Patagonia, Lululemon, Mejuri, luxury watch retailers and other high-end design concepts. This growing concentration of fitness, wellness, fashion, beauty and design reinforces the neighborhood's appeal to high-income renters.1342 West Randolph Street presents a rare opportunity to acquire a stabilized, value-add, boutique multi-family asset in the heart of Chicago’s premier Fulton Market. The 23-unit property features (20) large 2BD/2BA apartments, (2) luxury high-end penthouses, ~11,354 SF of buildable area permitted by the property’s C1-5 zoning, on-site garage parking and ground-floor retail occupied by Millennium Dental on a NNN lease. The property offers meaningful upside through residential rent growth as leases roll to market, complemented by significant long-term retail rent growth and the ability to add to the property’s unit count.
Fulton Market has emerged as one of Chicago’s premier live-work-play destinations, supported by a deep concentration of prominent corporate occupiers including Google, McDonald’s Global Headquarters, Mondelēz International, Dyson, Kimberly-Clark, John Deere, WPP, Salesforce, and Boston Consulting Group, alongside a growing concentration of technology, professional services, and creative companies.
The neighborhood is further supported by luxury residential development, ongoing investment from major developers and distinguished retail and hospitality brands like Reformation, Patagonia, Rick Owens, Madewell, Mejuri, Monos, lululemon, Herman Miller, Whole Foods, Nobu, Soho House and The Hoxton Hotel. Most notably, Randolph Street’s renowned “Restaurant Row” has established itself as a world-class culinary destination, featuring more than 10 Michelin-recognized restaurants. The corridor is also home to Smyth, located adjacent to 1342 W Randolph Street, which was named North America’s No. 1 Restaurant for 2026 by the North America’s 50 Best Restaurants Academy.
Combined, the property’s rarity in the market, boutique scale, condo-quality residences, stable occupancy, development potential, significant rent growth opportunity and exposure to Chicago’s strongest neighborhood growth story make 1342 W Randolph a highly differentiated multi-family investment opportunity.
Highlights
- As-of-Right Development Potential: 11,354 SF of as-of-right buildable area under the property’s C1-5 zoning, offering potential to expand the existing footprint and add residential units without a zoning change or variance.
- Condo-Quality Apartment Units: Unit breakdown includes (20) large 2BD-2BA units with an average unit size of 1,273 SF, all with expansive private outdoor balconies; (1) 3BD-2BA penthouse unit and (1) 2BD-2BA penthouse unit, both featuring unparalleled skyline views and high-end luxury finishes.
- Fulton Market Location: Situated in Chicago’s premier, high-demand submarket and surrounded by world-class dining, luxury hospitality, distinguished brands, tech headquarters, and continuous neighborhood investment.
- Immediate Value-Add Potential: The (20) 2BD-2BA units average an in-place rental rate of $3.00/PSF/Month, presenting an immediate near-term lease-up opportunity at market apartment rents.
- Incomparable Asset: 1342 W Randolph is one of only a few boutique multi-family buildings in Fulton Market.
- Near 1:1 Parking Ratio: (19) garage spots + (1) outdoor loading space and the property is located across the street from Fulton Market’s only public parking garage, Union Parking, which features 502 garage parking spaces.
- Significant Retail Upside: The corner retail unit on Randolph Street, currently occupied by Millennium Dental, has very substantial long-term market rent upside.
- Stabilized Multi-Family with Ground Floor Commercial: A core Fulton Market investment offering includes 22 residential units situated above a ground-floor dental practice.
- Transit-Oriented Connectivity: Excellent transit access, located steps from the Ashland CTA Green and Pink Line stations.
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Contacts
Adam Thomas
SVN | Chicago Commercial
Location
Located at 1342 W Randolph St, Chicago, IL 60607, this property is part of the Fulton Market neighborhood and Chicago market.
Contact Listing Broker
Adam Thomas
SVN | Chicago Commercial