CHICAGO-RAIT Financial Trust, a Philadelphia-based firm, has sold a preferred stake in 401 N. Michigan Ave. to investors for over $19.5 million, which the firm paid for the equity investment in 2004.
The company has not disclosed the address or sale price of the property, but sources have identified the property as riverfront office building, which measures 737,000 square feet. RAIT and Zeller Realty Corp. refused to comment on the deal. The stake was sold through RAIT's subsidiary. For the full story, go to Crain's Chicago Business.
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
