In the News
New Buyer Emerges in Big Gold Coast Condos-to-Apartments Deal
A New Jersey investor that has converted several Chicago condo buildings into apartments has struck again, taking over a 309-unit high-rise in the Gold Coast that was set to be sold to another buyer.
The sale had been in the works since last year, but not to Strategic. Last July, the building’s condo owners agreed to sell the property for $92 million to ESG Kullen, a New York investor. But ESG pushed the deal’s closing date back multiple times, a sign to some owners that the firm was having a hard time securing financing for the acquisition.
Read more about the purchase in Crain’s Chicago Business.