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West Loop Retail Asset Sells For $13.6M

1301 West Madison St., Chicago
Block Y at 1301 West Madison sits on the edge of Fulton Market.

Investor interest remains strong in Fulton Market and adjacent real estate. An affiliate of Los Angeles-based Blatteis & Schnur sold a blocklong stretch of retail along Madison Street for $13.6M.

Blatteis & Schnur acquired the 25K SF block of retail for $8M in 2006. The buyer, an affiliate of Renaissance Capital, gets a property that is 100% leased with three tenants locked into long-term, triple-net leases and 170 parking spots, near a submarket that will see 20,000 new jobs, 3,500 new apartments and 800 hotel rooms arrive in the next two years.

CBRE's Keely Polcynski represented the seller.