Broker: Scott R. Maesel
Scott R. Maesel serves as Managing Director for SVN Chicago Commercial in Chicago’s West Loop/Fulton Market and SVN Commercial Partners in Boca Raton, Florida. With over 25 years of industry experience, Maesel is a highly regarded Chicago CRE veteran and named one of Crain’s Most Influential Commercial Real Estate Brokers.
Early in his career, he worked for Glascott & Associates and Garrett Realty & Development prior to co-founding the highly successful commercial division of Sussex & Reilly Real Estate. In the great recession of 2008, he affiliated his own independent boutique company with SVN, an International Investment Real Estate Company.
SVN Chicago Commercial, which celebrates 14 years in operation, is consistently ranked as one of the top SVN firms nationwide. Since its inception he and his partners have expanded the business to include two offices and over 60 advisors & staff, servicing all commercial product types both locally and nationally.
Maesel continues to be an active team leader of the SVN Urban Real Estate Team formed in 2012 and consisting of 4 other specialized team members. He and his team have positioned themselves as the definitive West Loop/Fulton Market and near west side commercial property experts. With over 175 completed transactions of both sales and leasing no other firm has more market share than SVN in the area. He is the former President of the Advisory Council for the highly acclaimed Mary Bartelme Park in the West Loop and past President of the West Loop Community Organization. He continues to be a West Loop/Fulton Market business & commercial property owner.
In 2020 at the beginning of the pandemic Maesel helped establish the SVN Commercial Partners office in Boca Raton, Florida. With 18 active advisors since its inception it continues to expand offices into the Miami and West Palm Beach markets. SVNCP is also affiliated with offices on the West Coast of Florida in Sarasota, Fort Myers and Port Charlotte.
Maesel enjoys adventure travel, adventure races, running, mountain biking and spending time with his family and twins.
About SVN
Tired of being “brokered”?
In 1987, frustrated with the way the industry handled clients and transactions, the founders of Sperry Van Ness International Corporation did something about it. They pioneered a better way of handling investment real estate transactions that put the client’s interests first. Their mission? Create unprecedented value for commercial Advisors and their clients. Today, the SVN Franchise Organization is one of the fastest growing commercial real estate firms in the nation, with a revolutionary business proposition.
The SVN Difference
From the first day it lists a property, the SVN ORGANIZATION of affiliates is the only brokerage firm that markets all properties on a national basis to a 100,000-strong brokerage and investment community.
Because of its national reach that includes primary, secondary and tertiary markets, the SVN Organization excels at seamlessly locating investment options on behalf of clients across the country while leveraging the power of all brokers — even those with competing firms.
Unlike most brokerage firms, everything that the SVN ORGANIZATION does is designed to achieve better results for real estate investors. Frankly, no other brokerage firm commits to putting the client’s interest first as quickly and effectively as the affiliates of SVN. It’s proven through our people and processes.
Year after year, transaction after transaction, our results prove it.
Maximum cooperation equals maximum value.
Location
Traffic
NEARBY MAJOR RETAILERS
TRANSIT/SUBWAY |
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Ashland Station
   7 min walk 0.5 mi |
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Racine Station
 16 min walk 2.1 mi |
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Illinois Medical District Transit Stop
20 min walk 1.1 mi |
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3 min drive 1.2 mi |
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UIC-Halsted Station
4 min drive 4 min drive
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COMMUTER RAIL |
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Chicago Ogilvie Transportation Center Commuter Rail (Union Pacific North, Union Pacific Northwest, Union Pacific West Lines)
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20 min walk | 1.1 mi |
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Chicago Union Station Commuter Rail (North Central Service, Milwaukee District North Line, Milwaukee District West Line, Burlington Northern-Santa Fe Railway Line, Heritage Corridor Line, SouthWest Service)
  
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4 min drive | 1.4 mi |
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Western Avenue Station (MD-N/MD-W/NCS) Commuter Rail (North Central Service, Milwaukee District North Line, Milwaukee District West Line)
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5 min drive | 2.1 mi |
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Chicago LaSalle Station Commuter Rail (Rock Island District Line)
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6 min drive | 2.1 mi |
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Halsted Station Commuter Rail (Burlington Northern-Santa Fe Railway Line)
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6 min drive | 2.9 mi |
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Chicago Midway International Airport
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19 min drive | 10.6 mi |
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Chicago O’Hare International Airport
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26 min drive | 17.0 mi |
$8,000,000
Property Details
| Lease Rate: | $50.00 SF/yr (NNN) |
| Property Type: | Retail |
| Building Class: | B |
| Building Size: | 7,250 SF |
Property Description
Highly Desirable Bow Truss Building with Parking on Randolph.
Highlights
- Wide open floor plan with built-out kitchen and bathrooms/ locker rooms.
- The property is surrounded by planned/under construction high-rise developments making it a great covered land play or development site.
- Walking distance to Morgan and Lake Green/Pink Line CTA Station.
- Surrounded by recently announced high-profile Fulton Market HQs including Google, McDonald’s, WPP, TikTok, Ernst & Young, John Deere, Aspen Dental, Kimberly-Clark, Tock, CCC, MoLo Solutions and more.
- 19 parking spaces on-site.
CAMS & Taxes
Parcel Numbers: 17-08-329-002-0000
Improvements Assessment: $126,633
Land Assessment: $85,187 Total Assessment $211,820
Zoning
Retail storefronts. Allows more business types than B1 districts, including liquor stores, warehouses, and auto shops. Apartments are permitted above the ground floor.
Specifications
| Zoning Ordinance reference | § 17-3-0105 View the Chicago Zoning Ordinance |
| Floor area ratio | 3 |
| Maximum building height | Varies by lot frontage, and whether building has ground-floor commercial space. (See 17-3-0408) |
| Lot area per unit (density) | 400 sq ft/dwelling unit, 300 sq ft/efficiency unit, 200 sq ft/SRO unit |
| Minimum lot area | |
| On-site open space | N/A |
Setbacks
| Front yard | None, unless property borders an R-zoned lot. Then the front setback must be at least 50% of the R lot’s front setback. (See 17-3-0404.) |
| Side | None, unless property borders an R-zoned lot. Then the R lot’s front setback applies. |
| Back yard | If property has dwelling units, minimum of 30 ft. If its rear property line borders the side property line of an R-zoned lot, the rear setback must equal the side setback of the R-zoned lot. If rear line borders the R lot’s rear line, setback must be at least 16 ft. |
DEMOGRAPHICS
Total households 25,917 490,970 1,186,228
Total population 45,818 1,002,371 2,663,971
Population white 62.0% 55.5% 50.6%
Population black 12.3% 18.6% 22.8%
Population hispanic 11.6% 27.1% 32.5%
Population asian 17.3% 9.9% 7.3%
Population pacific islander 0.0% 0.0% 0.0%
Population american indian 0.1% 0.3% 0.4%
Population other 2.3% 10.5% 13.2%
Persons per household 1.8 2 2.2
Average household income $126,061 $108,350 $86,892
Average house value $452,275 $398,822 $314,939
Average age 32.5 34.1 35.9
Average age male 32.7 33.7 35.1
Average age female 32.5 34.8 36.8
Photos
