State and Wabash Dual Offering
Mixed Use
Marketing description
This dual offering is in the red hot South Loop. Both properties are newly renovated, including 22 apartments and 12,960 SF of commercial space at 2001 State, and 6,736 SF of commercial space and a 2,200 SF of 2ndfloor work/live space at 2000 Wabash. Commercial tenants include Phenomenal Fitness, Streetwise Chicago HQ, an OBGYN and a specialty grocery store.
The property received a new Certificate of Occupancy in 2018 and has undergone new buildouts in all commercial spaces between 2018-2021. All apartments have been totally gut renovated including new granite counters, cabinets, flooring, stainless steel appliances, plumbing, electric, heating & cooling and laundry machines.
Formerly the Cullerton Hotel, and Al Capones old hangout spot in the South Loop. The building has seen many capital improvements. Brand new roofing, tuck pointing, siding, security system, stairs and windows, HVAC, and elevators all add to the new and improved feel of this building. Thanks to the property's proximity to the central business district, top parks, cultural attractions and schools, Chicago's South Loop has started to become one of the hottest markets for newer construction.
This building is a short distance from McCormick Place, Wintrust Arena, and Marriott Marquis Hotel. It is also just two blocks from the Cermak Green Line L Station. A $390M expansion project to grow the nearby area is underway to create McCormick Square: a destination for new nightlife, hotels, and retail attractions.
One of the primary highlights of the property is the rapidly growing community. Some of the newer developments include eight high-rise apartment buildings, two hotel expansions, office buildings and DePaul's Wintrust Arena. All of these new developments will provide additional exposure to the property, but it will also create a more vibrant community
Investment highlights
- Located near McCormick Place Convention Center, which attracts nearly 3 million visitors annually.
- Located in the rapidly developing South Loop market
- Business professionals and students have brought new life and redevelopment, filling the restaurants, music clubs, smaller theaters and museums that have all established themselves in the community.
- Near the 10,000-seat multipurpose Wintrust Arena. Uses range from women's and men's basketball games, concerts, family shows and business conventions to name a few.
- The new 1,200-room Marriot hotel with 93,000 square feet of elegant event space, including two 25,000-square-foot ballrooms.
- Walking distance from CTA “L” station (Red, Orange and Green Lines).
- Proximity to the interstate system I-90/94, I-55 and Lake Shore Drive.
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