@properties Brokers West Loop Commercial Real Estate Deal for First FIAT Showroom in Downtown Chicago

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High-visibility West Loop commercial real estate gives FIAT exposure along Randolph and I-90/94 in the West Loop

West Loop Commercial Real Estate Broker @properties

The future home of Fiat of Chicago in the West Loop, brokered by @properties

Highway exposure is key for any car dealer. To acquire that type of frontage in downtown Chicago is tremendous for FIAT.

A west-suburban-based auto dealer will open the first FIAT showroom in downtown Chicago after signing a 10-year retail lease for 12,900 square feet of West Loop commercial real estate.

Harlem Garfield LLC, a partnership that also owns and operates Volvo of Oak Park, will open FIAT of Chicago at 647 W. Randolph St., on the ground floor of a 15-story condominium building at the southwest corner of Randolph and Desplaines.

The location gives FIAT street frontage along two main thoroughfares as well as high-visibility signage along Interstate 90/94, which the building abuts to the east.

Mike Rourke, vice president of @properties Commercial, represented the landlord, a local partnership with investments in West Loop commercial real estate. James Ascot, managing broker of Ascot Realty Group, Inc. represented the tenant.

“Chicago is a key market for FIAT Cars of North America, and FIAT of Chicago is expected to soon become the largest planned sales volume dealer in the Midwest,” said Carmelo Scalzo, vice president and general manager of Fiat of Chicago.

The new FIAT Studio will sell the all-new 2012 Fiat 500, which starts at $15,500 (MSRP), the 500 Cabrio ,the 500 Gucci Edition and the highly anticipated 2012 Fiat 500 Abarth.

“Highway exposure is key for any car dealer. To acquire that type of frontage in downtown Chicago is tremendous for FIAT,” said @properties’ Rourke. “At the street level, FIAT is going to add to the cool factor of the West Loop. It’s a great pairing: a hip brand in a hip neighborhood.”

For more information about FIAT, visit http://www.fiatusa.com

About @properties Commercial
@properties Commercial is the commercial leasing and sales division of @properties and is active in the West Loop commercial real estate market. @properties is the #1 real estate brokerage firm in Chicago. @properties also has divisions for residential sales; relocation; bank advisory services; commercial and residential property management; and development sales and marketing for new construction and condominium conversions. The company has nine office locations throughout the city and North Shore: Bucktown, Lincoln Park, River North, Streeterville, Lakeview, Evanston, Winnetka, Highland Park and Lake Forest. For more information, visit http://www.atproperties.com/commercial.

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Peter Olesker
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