CHICAGO-A condominium developer has purchased a foreclosed warehouse with plans to transform it into 50 apartments. A venture headed by JK Equities LLC of Jericho, New York, has agreed to purchase the four-story property at 2100 S. Indiana Ave. and an adjacent 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 the property into apartments. For the full story, go to Crain's Chicago Business .
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