Investment Summary
Cushman & Wakefield's National Office Investment Advisory (OIA) Group has been retained as exclusive advisor and agent to offer for sale to qualified investors the 100% fee simple interest in 328 South Jefferson Street, a 293,037 square foot, newly renovated, 10-story concrete boutique creative office building located in the heart of the Near West Loop submarket in Chicago, Illinois.
Originally constructed in 1928 as the "Igoe Mercantile Exchange Building," 328 South Jefferson is simultaneously modern and timeless. The A.S. Schumler designed building features differentiated bones that are a vestige from its heavy industrial past - eliciting a rare authenticity that allows for unique office spaces with creative vibes exceeding employee expectations as return-to-office continues. The Property has been meticulously maintained and was renovated in 2024 to feature a robust amenity package distinguishing the Property from its peers with amenities rarely found in loft-style product. Approximately 61% occupied today, 328 South Jefferson presents a generational opportunity to reset basis and drive outperformance at one of Chicago's most well-located, amenitized boutique creative office assets.
Investment Highlights
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Highly Differentiated, Newly Renovated & Amenitized Loft Office Product
Boutique, Value-Add Lease-Up Opportunity in Highly Accessible, Transit-Oriented Location
Significant Expected Basis Reset Generates Robust Leasing Activity
West Loop: Chicago's Strongest & Most Resilient Submarket
Open, Loft-Style Design Allows Flexibility in Space Planning with Lease Duration
Property Summary
Year Built / Renovated
1928 / 2008 / 2024
Stories
10
Net Rentable Area
293,037 SF
Avg. Floor Plate Size
29,304 SF
Occupancy
61%
# of Tenants
27
Weighted Avg. Remaining Lease Term
3.1 Years
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Investment Contacts
JEREMIAH OLSEN