The buyer is the prestigious Latin School of Chicago, which has buildings at 59 W. North Blvd. and 1531 N. Dearborn Pkwy. "This acquisition will positions the school to expand its Gold Coast campus in an efficient manner," says Michael R. Haney, president of Newcastle Limited, which represented the Eleanor Foundation deal.
The Latin School was represented by Martin Stern, senior vice president of U.S. Equities, Inc.
"We received a dozen offers from credible buyers," Haney says. "However, The Latin School's offer was a win-win transaction for both of these not-for-profit Chicago institutions."
The K-12 school lives up to its name, teaching both Latin and Greek in its rigorous college prep curriculum. The Eleanor Foundation closed its dormitory Sept. 30, after more than a century of hosting single working women.
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