The Museum of Broadcast Communications paid $4.635 million for the property, which is located on a 13,520-sf site next to The House of Blues and Harry Caray's Restaurant. Reza Toulabi, a local restaurateur, bid $2.78 million for the asset in an August 2002 auction held by Sheldon Good & Co. Auctions LLC, but the deal never closed.
Park Ridge-based BJB Partners paid $4.325 million for the building in August 2000 with a $3.2-million mortgage. However, they dropped plans to redevelop the property with a high-rise condominium tower, putting it on the Sheldon Good & Co. auction block.
SVP Douglas P. Johnson and Michael T. Garrity of the company represented BJB Partners, an owner and manager of multifamily rental buildings throughout the market. Martin Geraghty of the Geraghty Group represented the Museum of Broadcast Communications.
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