CHICAGO—Kiser Group, a Chicago-based firm, justbrokered the sale of the Germania Club building, a40,634-square-foot mixed-use building on the NationalRegister of Historic Places at 108 W. Germania Pl. TheGold Coast landmark fetched $7.89 million, Kiser officials say.

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Although the brokers would not disclose the buyer or seller,Cook County property records show that the building was sold by NewHyde Park, NY-based Kimco Realty Corp. toBuffalo Grove Fresh Farms LLC, part of BuffaloGrove, IL-based Svigos Asset Management, whichhelps develop Fresh Farms grocery stores.

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“This was an amazing chance to purchase not only a piece ofChicago history, but also a fully stabilized investment property inone of Chicago's best neighborhoods,” says BillBaumann, senior managing director for Kiser. “The asset isvery well-maintained and boasts a mix of stable, long-term tenants.This is only the third time this property has come to market in itsstoried history, making it a very unique opportunity.”

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The building was designed in 1888 by architectural firmAddison & Fielder and began life as agathering place for the city's German community. It features twogrand ballrooms with 50' ceilings that host corporate, civic andprivate events. The property is 100% leased to a mix of retail andoffice tenants including Starbucks,T-Mobile and Lincoln ParkPreparatory.

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Located near the intersection of Clark St. and North Ave. anddirectly across from the Latin School andChicago History Museum, the Germania Club is oneof the city's architectural gems, says Baumann, and was designateda Chicago landmark in 2011. The ballrooms feature ornate Victorianarchitecture, with inset gold domes, original chandeliers and 20'arched-windows.

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“Space like this simply isn't designed anymore,” adds Baumann.“The Germania Club has been a staple of Chicago for more than acentury and with its historic, old-world feel, it is sure to remaina top destination for some of the city's premier special events fordecades to come.”

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.