Servicer Sale: 190,000+ SF Downtown Chicago Office Building | 2019 Renovated

For Sale

205 West Randolph Street, Chicago, IL 60606

This Chicago property for sale is located at 205 West Randolph Street. The general use of Servicer Sale: 190,000+ SF Downtown Chicago Office Building | 2019 Renovated is office and it incorporates 207,506 square feet of class B office space. Contact the listing broker for details on the current sale price for Servicer Sale: 190,000+ SF Downtown Chicago Office Building | 2019 Renovated. Servicer Sale: 190,000+ SF Downtown Chicago Office Building | 2019 Renovated is situated on a lot that is 0.33 acre in size.

Contacts

RI Marketplace Marketing

RealINSIGHT Marketplace

Property Details

  • Property Type Office
  • Property Size 207,506 SF
  • Lot Size 0.33 Acre
  • # of Floors 23
  • Building Class B
  • Year Built 1922
  • Year Renovated 2019
  • Date Updated Apr 23, 2026

Investment Highlights Value-Add Potential at ~62.0% Occupancy- Excellent opportunity to drive value through lease-up and increased occupancy. Average 2,426 SF Suite Size Caters to Modern Tenants- Efficient suite sizes appeal to small and mid-sized tenants seeking flexible office footprints. Robust Cash Flow Supported by Diverse Tenancy- 36 tenants operating across 11 different industries. Strong Tenant Commitment & Long-Term Occupancy- Tenants demonstrate long-standing commitment, evidenced by 13.1 years of weighted average tenure. Exceptional Access and Transportation Connectivity- Centrally located within the Chicago CBD with convenient access to CTA “L” lines, Metra stations, and regional transportation networks. Immediate Access to Premier Downtown Amenity Set- Located in the West Loop with immediate access to premier dining, retail, and business amenities. Blank Canvas for New Amenity Offering- Opportunity to introduce a curated amenity program tailored to small and mid-sized tenants to drive leasing demand. Offering Summary Newmark, in conjunction with RealINSIGHT Marketplace, is pleased to present the opportunity to acquire the fee-simple ownership interest in 205 W Randolph (the “Property” or “205 W Randolph”), a 23-story office building totaling 207,506 square feet, prominently located just blocks from the Chicago River in Chicago’s West Loop. 205 W Randolph offers investors the opportunity to acquire a distinctive office asset located in the heart of Chicago's office core that provides efficient commuting for Chicagoans and suburbanites alike. The Property is currently 62% occupied with a 3.4-year weighted average lease term and will be 61% occupied after the expiration of known vacates. The Property's value-add potential is underscored by its positive NOI, providing flexibility during the lease-up period. 205 W Randolph is centrally located at the intersection of Chicago’s West Loop and Central Loop, placing the Property within the heart of Chicago’s Central Business District. The Property benefits from exceptional access to public transportation, with multiple CTA “L” lines, Metra stations, and bus routes all within a short walk. This highly walkable location provides convenient connectivity to Chicago’s major employment hubs, neighborhoods, and regional suburbs. The Property’s desirability is further enhanced by its proximity to a deep and diverse amenity base, including West Loop and surrounding area’s dining, retail, and entertainment, as well as the Loop’s core business, cultural, and civic destinations. 

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Location

  • City Chicago, IL
  • Neighborhood Chicago Loop
  • Zip Code 60606
  • Market Chicago

Points of Interest

  • Merchandise Mart

    0.31 miles

  • Lake

    0.32 miles

  • State/Lake

    0.34 miles

  • Quincy

    0.38 miles

  • Clinton

    0.38 miles

  • Millennium Station

    0.48 miles

  • Adams/Wabash

    0.52 miles

  • Harold Washington Library-State/Van Buren

    0.57 miles

  • Grand

    0.61 miles

  • Chicago

    0.85 miles

  • ChargePoint

    0.55 miles

  • BP

    0.65 miles

  • Blink

    0.71 miles

  • Volta

    0.72 miles

  • Tesla Supercharger

    0.73 miles

  • Shell

    0.89 miles

  • Blink ParkChip Garage - 1035 Van Buren

    1.11 miles

  • Citgo

    1.15 miles

  • Electrify America

    1.22 miles

  • Marathon

    1.41 miles

  • Standard Parking Garage

    0.04 miles

  • 120 North LaSalle

    0.05 miles

  • Washington Franklin Self Park

    0.06 miles

  • Lake/Wells Self Park

    0.08 miles

  • 217 West Washington

    0.11 miles

  • Franklin-Lake Self Park

    0.12 miles

  • 210 N Wells Self Park

    0.13 miles

  • 225 Wacker Self Park

    0.13 miles

  • Washington-Madison-Wells Self Park

    0.14 miles

  • 191 N Wacker

    0.14 miles

  • The Allegro Royal Sonesta Hotel Chicago Loop

    0.04 miles

  • Hyatt Place Chicago/Downtown - The Loop

    0.13 miles

  • La Quinta Inn & Suites by Wyndham Chicago Downtown

    0.19 miles

  • Residence Inn Chicago Downtown/Loop

    0.21 miles

  • The Kimpton Gray Hotel

    0.26 miles

  • Cambria Chicago Loop - Theatre District

    0.28 miles

  • Hyatt Centric The Loop Chicago

    0.28 miles

  • The Marquee at Block 37

    0.28 miles

  • W Chicago City Center

    0.32 miles

  • Staypineapple, An Iconic Hotel, The Loop

    0.32 miles

  • Block 37 Shops

    0.27 miles

  • The Merchandise Mart

    0.30 miles

  • Chicago French Market

    0.34 miles

  • Saks Off 5th

    0.36 miles

  • Macy's

    0.37 miles

  • Target

    0.38 miles

  • TJ Maxx

    0.39 miles

  • Ross

    0.39 miles

  • Burlington

    0.40 miles

  • Metro Spice Mart

    0.52 miles

Contact Listing Broker
RI Marketplace Marketing

RealINSIGHT Marketplace

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