Mod Apartment Building Sells for $20M
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CHICAGO-Randolph Street Realty Capital is selling a 58-unit multifamily building called Mod in the West Loop to Chicago developer Steven Fifield for a price of $20 million. Fifield plans to build 44 more units on a parcel adjacent to the site. The deal, which includes the adjacent parcel, amounts to roughly $345,000 per apartment for the five-story structure located at 1222 W. Madison Street.
Mod's expansion will also include a 3,000-square-foot retail space and a business center. Construction is expected to start in spring. For the full story, go to Chicago Business Journal .
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