National Real Estate Leader Expands Portfolio with Purchase of West Loop Property
Thor Equities, a global leader in urban real estate development, leasing and management, has closed on the acquisition of 942 West Fulton Market in Chicago for $5.9 million, company executives announced today.
Located across the street from Google’s new Chicago headquarters and directly in front of the new ACE Hotel, the retail and loft office building features 16,000 square on four levels, as well as a rooftop with views of the Chicago skyline and over 50 feet of retail frontage.
“With Fulton Market continuing to evolve and become more upscale, 942 West Fulton Market offers the ideal opportunity for a high-end retailer or office tenant to secure prime space in this burgeoning area,” said Joe Sitt, CEO of Thor Equities.
Once dominated by cold storage facilities and wholesale meat companies, Fulton Market is filled with popular restaurants, boutique hotels, residential buildings, art galleries, and architectural and creative firms, along with major companies such as Google, Uber and Inc.
Other recent additions include Soho House Chicago, City Winery, Brooklyn Bowl and WeWork, as well as boutique retailers Billy Reid and Kit and Ace.
The area also features a new $40 million CTA Green/Pink Line L station at the intersection of Lake and Morgan Streets, and two Blue Line stations located nearby.
Thor Equities owns a number of additional properties in Chicago including 1229 W. Randolph St., 905 W. Fulton Market and 230 N. Peoria St. in the Fulton Market area; the historical Palmer House Hilton; and 133 S. State St., 28-32 S. State St., and 36 S. State St. in Downtown Chicago.
About Thor Equities: Thor Equities is a leader in the development, leasing and management of commercial, residential, retail, hotel and mixed-use assets in premier urban locations worldwide. The company maximizes returns for investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, and leveraging market trends to maintain a long-term competitive edge. Thor Equities is also the exclusive representative of global retailers through Thor Retail Advisors, a premier leasing agent for marquee properties worldwide. For more information, visit www.thorequities.com.
