Chicago, IL
Gallery 1250
Located in historic Old Town Chicago, Gallery 1250 is a residential condominium deconversion project. The building’s Old Town location strikes an exceptional balance; the energy of city living with the serenity of nearby parks and the lakeshore. The acquisition of Gallery 1250 offers investors the rare opportunity to reposition a residential tower of scale in one of Chicago’s most affluent neighborhoods.
Details
Address 1250 North LaSalle Street
Total Units 196
Project Summary
Gallery 1250 is centrally located in Old Town, one of the trendiest neighborhoods in Chicago. Old Town has been popular for over a hundred years for its close proximity to downtown Chicago as well as Lake Michigan. The property is situated in an area populated with many contemporary restaurants, bars and shops, as well as the Second City theater, one of the most famous comedy clubs in the world.
Reminiscent of Europe’s charming towns, Old Town’s distinctive architecture and quaint, charming shops and coffee houses make for a reprieve from bustling downtown Chicago just a few minutes away. The distinctive blend of new and old, tranquility and vitality, make Gallery 1250’s placement a truly unique opportunity for investment.
New construction in Old Town is a rarity, so the opportunity to renovate this property is truly unique. With 130,340 sq ft of rentable area, the property is ripe to be renovated into a true premium living space. With over $4.5 million already invested in renovation of the building’s facade, elevators, and utilities, the property possesses the framework to be further transformed into a premier living experience.
