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Chicago & Midwest  + Downtown  + Hospitality  | 

Hospitality Property Trades in Streeterville

A single-tenant freestanding hospitality property was sold to a German investor at 164 E Grand Ave in downtown Chicago’s Streeterville neighborhood. Scott R. Maesel and Drew Dillon of SVN | Chicago Commercial represented the seller, R2, in the transaction.

The 8,700-square-foot asset is currently leased to multi-unit restaurant concept Hampton Social and sold for $6,320,000. The property was purchased by German investor René Gerdom, CEO of Ruger Holdings. 
 
“This transaction shows that there is still robust demand for hospitality assets with strong tenancy in Chicago even during the COVID-19 pandemic,” said Dillon.

Property highlights include an ideal corner location only a block off Michigan Avenue and high-density zoning for future development. 

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition