1300 N Dearborn

1300 N Dearborn

1300 N Dearborn Pkwy, Chicago, IL 60610, USA

1300 North Dearborn

Cushman & Wakefield Retail Investment Advisors exclusively present 1300 North Dearborn Parkway, Chicago, IL (“The Property”) – a landmark urban retail asset occupied by celebrated lifestyle and luxury home furnishings brand, RH. The 60,000-square-foot hybrid showroom and dining experience is secured by a net lease with 15-years remaining on the initial 20-year term. Additionally, the asset benefits from a reduced real estate tax assessment due to its Class L Property Tax Incentive. Although not a part of this offering directly, the parking facility which services all valet needs of the tenant and stands to ensure optionality for future uses can also be acquired at the time of sale.

1300 North Dearborn, commonly known for decades as the Three Arts Club, was selected by this revolutionary brand to serve as the flagship Gallery in Chicago. The stunning five level space blurs the lines between retail, dining, shopping, and hospitality with its jaw-dropping interiors and charming restaurant and cafe. The Property is located in one of the oldest and wealthiest Chicago neighborhoods, the Gold Coast, recognized nationally as the seventh richest urban area in America. It is also within walking distance of two of Chicago’s most premier and internationally recognized shopping streets, The Magnificent Mile and Oak Street.

RH has been a bright spot in the retail sector and the company continues to revolutionize physical retailing with the creation of experiential RH Galleries. The bold approach is proving to be successful as RH continues to report record results in their quarterly sales and raised fiscal guidance three times in 2019. Currently, the brand has 70 galleries and will be expanding into the European market in the next three years. 1300 North Dearborn represents an opportunity to acquire a trophy asset secured by long-term tenancy with impressive operating history. The Property offers an investor stable income and embedded annual rent growth from an innovative and celebrated brand at an exceptional location.

Property Summary

Year Built1914
GLA (SF)60,000 SF
AnchorRH Chicago
Occupancy100%

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