CHICAGO-A real estate investor based in Chicago has acquired an unfinished condo project located at 595 S. River Rd. in northwest suburban Des Plaines for $4.1 million from Fifth Third Bank, who foreclosed the property in February.
The investor has plans to rent out 60 condos as apartments. The construction is nearly 65% complete. David Strosberg of Morningside said that none of the dwelling units have been traded. The project is being financed by Morningside. For the full story, go to Crain's Chicago Business.
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