CHICAGO — A prominent retail property at the base of the historic Transportation Building in the South Loop has been sold for $4.1 million, signaling continued investor interest in high-foot-traffic downtown locations.
According to records from the Cook County Clerk’s Office, the 12,000-square-foot retail space at 600 S. Dearborn St. changed hands on June 5. The buyer, 600 Dearborn LLC, purchased the property from Dearborn 600 Associates LLC, in a transaction facilitated by Marcus & Millichap Inc.
Anchored by 7-Eleven in the Heart of the South Loop
The retail space sits within the 22-story Transportation Building, a residential condominium development surrounded by restaurants, offices, and transit hubs. One of the five tenants currently operating in the property is 7-Eleven, which occupies roughly 3,000 square feet and serves as the anchor tenant.
Real estate broker Mark Krantz of Marcus & Millichap, who represented the buyer, described the space as an “irreplaceable asset” given its visibility, existing tenant base, and location within a highly walkable corridor. “It’s in the heart of Chicago with a plethora of businesses surrounding it,” Krantz said.
The deal reflects continued demand for stable, income-producing retail assets in Chicago’s downtown core, even as some sectors of the city’s commercial real estate market remain volatile post-pandemic.
No Renovations Planned, Portfolio Play for D.C. Investor
The new owner, based in Washington, D.C., reportedly acquired the property as a portfolio investment, with no immediate plans for renovations or redevelopment. The purchase appears to be a long-term, income-focused acquisition rather than a value-add play.
According to the Chicago Business Journal, all current tenants are expected to remain in place, maintaining the building’s mixed-use functionality for residents and passersby.
The remaining four tenants have not been publicly named but are part of the building’s steady commercial mix, which caters to both residential foot traffic and nearby office workers.
Chicago Retail Market Still Shows Resilience
Despite broader economic uncertainty, strategically located retail properties in Chicago continue to attract interest, particularly those with long-term leases and established convenience-based tenants. The South Loop, in particular, remains a high-demand area for investors looking for foot traffic, transit proximity, and mixed-use density.
The success of the Transportation Building deal could signal increased activity in similar downtown retail assets, especially as more investors seek stabilized income sources amid rising interest rates.
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