An opportunistic investor has spent just over $5 million for a failed 15-unit condominium development east of the United Center, where the challenge now is likely to be finding top-quality tenants for the first-floor retail space.
A venture led by Elizabeth “Lizzie” Kaplan acquired 1004-14 W. Monroe Ave., a condominium project 1.2 miles east of the stadium.
An opportunistic investor has spent just over $5 million for a failed 15-unit condominium development east of the United Center, where the challenge now is likely to be finding top-quality tenants for the first-floor retail space.
A venture led by Elizabeth “Lizzie” Kaplan acquired 1004-14 W. Monroe Ave., a condominium project 1.2 miles east of the stadium.
The purchase price is just under 70 percent of the roughly $7.2 million in loans issued in 2007 to finance the project, according to a Crain's estimate, based on property records.
http://nalert.blogspot.com/2012/08/70-off-investor-snaps-up-failed-condo.html
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