CHICAGO-A condominium developer has purchased a foreclosedwarehouse with plans to transform it into 50 apartments. A ventureheaded by JK Equities LLC of Jericho, New York, has agreed topurchase the four-story property at 2100 S. Indiana Ave. and anadjacent lot for approximately $3.6 million.

First Midwest Bank is selling the properties to the JK venture,which still needs to secure a construction loan to convert theproperty into apartments. For the full story, go to Crain's Chicago Business .


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