1212 S. Michigan For Sale
A fund led by local real estate investor Allison Davis has decided to sell a 344-unit apartment building in the South Loop. DV Urban Realty Partners I L.P. has hired the Chicago office of CB Richard Ellis Inc. to market the 30-story tower at 1212 S. Michigan Ave., which the fund bought for $65 million in 2006. The building is 92% leased, according to a CB Richard Ellis brochure. Mr. Davis and a CB Richard Ellis executive did not return phone calls for comment.
Auction for lot on Chicago River, Just North of Roosevelt Pushed BackA prominent South Loop development site owned by Jos. Cacciatore & Co. Real Estate now is scheduled to be auctioned at the end of the month. Local auction house Diliberto Real Estate Services LLC had originally planned to sell the property, a five-acre-plus riverside parcel just north of Roosevelt Road, in a sealed-bid auction that ended May 5. But the sale has been switched to a live auction May 25, says Frank Diliberto, president of Orland Park-based Diliberto Real Estate. The property's current zoning allows for 1,500 residential units and a half-million square feet of retail space. Mr. Diliberto expects the buyer to focus on apartments, hotels or other unforeseen specialty uses. The opening bid is $8.4 million, he says.
We had a post about the auction site and what you would do with it called Dreaming of Interesting Things for a High Profile Lot in the Sloop...a good read.
(Image from 1212southmichigan.com)
1 comment:
This building is such a dump, inside and out. I hope "something" is done about its appearance by the new owners.
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