For Auction
Asset Snapshot
Offering Summary
Cushman & Wakefield, Inc. has been retained as exclusive advisor and agent to offer for sale to qualified buyers the 100% fee simple interest in 401 South State Street (the “Property” or “Building”), a nationally recognized Chicago landmark once home to the flagship Sears, Roebuck and Company as well as most recently to the Robert Morris University. Located in downtown Chicago’s East Loop neighborhood amongst a top-tier aggregate of educational institutions, the eight (8) story, 480,110 square-foot building is currently 100% vacant.
Constructed in 1891 by Levi Z. Leiter and designed by architect William Le Baron Jenney, the Property has been a nationally designated landmark since 1976 and achieved Chicago landmark status in 1997. Also known as the “Second Leiter Building,” the Property gained early recognition for being one of the earliest commercial buildings constructed with a metal skeleton frame. Given the Property’s 100% vacancy, the structure provides an exciting opportunity for a user or occupier to acquire the Property for their own use and to create a truly differentiated and irreplaceably located institutional facility. The offering also includes the adjacent building located at 418 South Wabash consisting of approximately 8,145 square feet that is also 100% vacant and contains mechanical equipment servicing 401 South State.
Due Diligence
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Platform Fee
Buyer pays a minimum platform fee of 5% or $25,000 at closing.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
