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| Photo by CoStar Group |
A local real estate investor is placing a bet on two trends in the downtown office market: the popularity of the West Loop and renovated old buildings. Following a spate of developers that have turned old West Loop warehouses and industrial buildings into trendy nontraditional offices, Chicago private-equity firm RDG Funds said it plans a similar turnaround for the vacant three-story building at 156 N. Jefferson St. It's the first West Loop investment for RDG, which paid $5.2 million last month to buy the 37,172-square-foot timber and beam from Portland, Ore.-based developer Gerding Edlen, according to the seller. Read More....
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