13thirteen

Cushman & Wakefield Brokers $40 Million Sale of 13thirteen Randolph Street Lofts in Chicago’s Fulton Market

CHICAGO, Nov. 6, 2019 – Cushman & Wakefield’s Midwest Multifamily Advisory Group has brokered the $40,150,000 sale of 13thirteen Randolph Street Lofts, a 74-unit mixed-use property at the southwest corner of Randolph and Elizabeth streets in the West Loop’s Fulton Market District. The per-unit price is one of the highest paid so far this year in Fulton Market, according to CoStar data. Todd Stofflet and Jason Stevens, managing directors of Cushman & Wakefield’s Midwest Multifamily Advisory Group, represented the seller, JP Morgan Asset Management, in the sale of the asset to RDG Funds LLC, a Chicago-based private equity firm. “The sale reflects the continued popularity of Fulton Market, particularly among investors in search of stabilized assets that stand to benefit from the neighborhood’s favorable long-term fundamentals,” said Stofflet. “As leading employers continue to establish and expand operations in the West Loop, demand for well-located rental communities like 13thirteen Randolph will [...]