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

1.

2.

3.

4.

5.

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

Photo Gallery

Investment Contacts

CODY HUNDERTMARK

Executive Managing Director

+1 312 338 7865

cody.hundertmark@cushwake.com 

TOM SITZ

Executive Managing Director

+1 312 338 7866

tom.sitz@cushwake.com 

ZACH BROWN

Senior Financial Analyst

+1 312 422 0642

zachary.brown@cushwake.com

KELSEY BERRY

Senior Associate

+1 312 424 8069

kelsey.berry@cushwake.com 

JEREMIAH OLSEN

Director

+1 312 338 7868

jeremiah.olsen@cushwake.com