Australian investor jumps into West Loop land grab

Photo from: CoStar Group Inc.

By: Micah Maidenberg | March 18, 2014 | ChicagoRealEstateDaily.com

An Australian real estate firm is buying a West Loop sausage factory about a block north of Oprah Winfrey's Harpo Studios, betting that the neighborhood's rapid development will continue. Drapac Group USA agreed to pay $3 million for the Fabbri Sausage Manufacturing Co. property at 166 N. Aberdeen St., a deal expected to close in September, said Sebastian Drapac, the firm's executive director here. As part of the deal, Drapac agreed to lease the 25,015-square-foot building back to Fabbri for at least a couple of years, he said.  Read More...