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CHICAGO-The Inverbrass Funds LLC has purchased a 105,000-sfbuilding and an adjacent parking lot for approximately $10 millionwith the intent of renovating the building into work/live units.Inverbrass Funds, based in Chicago, purchased the building at 619S. LaSalle St. in Chicago's Printers Row neighborhood from "a localpartnership," says John Slivka, senior associate for CB RichardEllis.

Slivka and Marcello Campanini, also with CB Richard Ellis,represented the seller in the transaction. The asking price for theproperty was $7.2 million. Slivka tells GlobeSt.com that it was"more of a business decision" as to why the local partnership wasselling the property. "There was a tenant that left a significantvacancy that allowed the ownership to work on repositioning it viacapital improvements," he says.