Fundamental Income Acquires Landmark Property - RH Chicago for $44.7 million
Fundamental Income, a Phoenix- based net lease real estate platform, announces its acquisition of RH Chicago, The Gallery at the Historic Three Arts Club for $44.7 million. The 70,000 square foot historic building formerly known as The Three Arts Club was originally constructed in 1914. The building includes six levels of home furnishings, a rooftop park and conservatory, The 3 Arts Club Café and The 3 Arts Club Wine Vault. The property was acquired subject to an in-place, long-term lease to RH (NYSE:RH).
"We jumped at the opportunity to acquire a one-of-a-kind historic asset occupied by an innovative organization that is changing the retail customer experience" said Alexi Panagiotakopoulo
