224 North Desplaines Street

224 North Desplaines Street

224 N Desplaines is a 77,107 square foot core-plus office property consisting of creative loft space located in the heart of downtown Chicago in the West Loop / Fulton West submarket. West Loop is the largest submarket in the Chicago metro, typically housing Fortune 500 companies such Boeing, Citigroup, Deloitte, and UBS.

The office submarket in West Loop is comprised of 47.2M SF, while only one million SF is creative office space. This has created an increased demand for creative office space in a market typically dominated by 4- and 5-star class-A towers. Since 2013, asking rents have grown nearly 50% cumulatively in creative office buildings compared to 12% in 4 and 5-star buildings.

Details

Property Type : Commercial
Status : Property for sale
Business Plan : Value add, potentially income producing

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This property is one of the number of properties that are managed by Shopoff Realty Investments, and owned by closed investment funds. For the remainder of the properties "click here"

This is neither an offer to sell nor a solicitation of an offer to buy any security. An investment in a Shopoff limited partnership involves a high degree of risk, including the possible loss of your investment, and is illiquid with an uncertain liquidity date. Past performance is not indicative of future results. Securities offered through Shopoff Securities, Inc., member FINRA/SIPC.

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