CHICAGO-A 447-unit Bronzeville multifamily building, which made the National Trust for Historic Preservation’s “10 Most Endangered Buildings” list in 2003, is being sold by a group that recently considered a conversion to 300 condominiums. Highland Park-based AMA Realty Group, which bought Michigan Boulevard Garden Apartments at 4600 S. Michigan Ave. in 2003 at a foreclosure sale, has a $9-million application for tax increment financing pending, according to Inland Real Estate Auctions Inc. Inland will auction the property also known as “The Rosenwald” Aug. 24.

The city also has approved architectural and construction plans for the $75-million conversion of the property, on the National Register of Historic Places since 1981. However, the 364,000-sf building on 4.7 acres has been vacant since 2000 when the city ordered it shuttered following a gas leak.

AMA Realty Group’s plan included 13,400 sf of retail space along 47th Street. The building once housed Sears and A&P stores, as well as a bank branch.

The tax bill for Michigan Boulevard Garden Apartments has been slashed from $363,680 in 2002 to nearly $50,000 last year, according to property records. However, a buyer could be in line for an eight-year property tax freeze, according to Inland Real Estate Auctions.

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