The most recent seller was the Reza's restaurant chain, which dropped plans to open an eatery at the base of the Kennedy Expressway feeder ramp.
Along the way, the previous two buyers-turned-sellers paid for architectural plans for converting the seven-story building into loft condominiums as well as feasibility studies for a vacant parcel at the southeast corner of Ohio and Orleans streets, notes Inland Real Estate Auctions, Inc. senior vice president Frank Diliberto, adding value to the property rather than making it a flipper. "Whether it's a suburban office complex or a city loft building such as 325 W. Ohio, buyers are vying for a few ideal properties," he adds in a statement.
The sales prices for the property added up to $28 million, according to Inland.
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