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| Photo from Crain's Chicago Business |
A California investor has cashed out on a Near West Side retail property near the Fulton Market District as the flurry of activity in the area continues to move west. An entity controlled by Los Angeles-based Blatteis & Schnur sold the 24,863-square-foot block of retail at 1301 W. Madison Street to a local investor for $13.6 million, according to real estate brokerage CBRE. The sellers signed long-term leases in recent years with three tenants on the property, which it bought in 2006 for $8 million on the ground floor of a building that includes the Block Y Lofts condominiums, Cook County property records show. The sale also includes use of 170 parking spaces in an adjacent parking deck on the site. Read More....
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