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The Neighborhood Hotel Fulton Market 801 W Madison St 76 Room Hotel Chicago, IL 60607 For Sale
INVESTMENT HIGHLIGHTS
- Historic Building with Stunning Flagship Retail Space, Perfect for Retail/Restaurant, or Member’s Club Anchor Tenant
- Strong Hotel Fundamentals with No New Hotels Due to Open in 2025 or 2026 in the Immediate Area
- Fully Permitted & Entitled Project - Timing: 14 Months Until Substantial Completion & Commencement of Hotel Operations
- L-Shaped Building Creates Significant Natural Light Throughout the Property
- Healthy Returns with Stabilized Yield on Costs at Nearly 10% and Debt Yield Hitting 16%
- Positioned at the Intersection of Madison and Halsted Street, Between Two CTA L Train Stops & Major Bus Lines
EXECUTIVE SUMMARY
CBRE, as an exclusive agent, is pleased to present the opportunity to acquire 801 West Madison Street (“the Property”) for future redevelopment or partner in a joint venture with the existing sponsor.
The Sponsor has completed demolition and abatement of the interior spaces with the vision of creating a 76-unit luxury apartment style hotel under The
Neighborhood Hotel flag. The Property benefits from DX-7 zoning allowing for a multitude of uses as of right. The 1st Floor is a 1920’s architectural gem, complete
with marble columns and vaulted ceilings, with the décor extending to parts of the lower level. The corridors on the upper floors are historically protected, serving
as a beautiful backdrop surrounding the skylight above the atrium.
On the lower level, endless potential exists to create unique experiences out of the former bank vault and executive dining rooms. Both the ground floor and
basement are primed to support a food & beverage owner/operator.
The Sponsor offers several options to investing the Property, either through partnership or outright sale.
View the offering memorandum and learn more:
The Sponsor has completed demolition and abatement of the interior spaces with the vision of creating a 76-unit luxury apartment style hotel under The
Neighborhood Hotel flag. The Property benefits from DX-7 zoning allowing for a multitude of uses as of right. The 1st Floor is a 1920’s architectural gem, complete
with marble columns and vaulted ceilings, with the décor extending to parts of the lower level. The corridors on the upper floors are historically protected, serving
as a beautiful backdrop surrounding the skylight above the atrium.
On the lower level, endless potential exists to create unique experiences out of the former bank vault and executive dining rooms. Both the ground floor and
basement are primed to support a food & beverage owner/operator.
The Sponsor offers several options to investing the Property, either through partnership or outright sale.
View the offering memorandum and learn more:
PROPERTY FACTS Under Contract
AMENITIES
- Balcony
- High Speed Internet Access
- Patio
- On-Site Bar
- Boutique/Lifestyle Hotel
- Public Access Wifi
- Smoke-Free
- Fully-Equipped Kitchen
- Multi-Room Suites
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 76 | $488.57 CAD | - |
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (96)
Bike Score®
Biker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 17-17-209-009-0000 | Improvements Assessment | $837,179 CAD |
| Land Assessment | $540,539 CAD | Total Assessment | $1,377,719 CAD |
PROPERTY TAXES
Parcel Number
17-17-209-009-0000
Land Assessment
$540,539 CAD
Improvements Assessment
$837,179 CAD
Total Assessment
$1,377,719 CAD
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The Neighborhood Hotel Fulton Market | 801 W Madison St
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