Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the multifamily market, click here.)

CHICAGO-A seven-story, 56,000-sf West Loop industrial building formerly used by a printing company has sold for the second time in a year, this time for $5.1 million. About a year ago, the same building at 123 N. Sangamon St. sold for $4 million, according to documents on file at the Cook County Recorder of Deeds office.

The city council already has approved converting the 87-year-old former Soodik Printing Co. building into 47 loft condominiums. Indeed, the 2005 sale was from Gramercy Lofts, LLC. PEAK Construction Development, LLC took over the conversion with a $10.7-million loan from MB Financial Bank. Now known by its street address, the loft building was recently sold to another limited liability corporation, who financed its purchase with a $7.1-million short-term loan from Hinsdale-based Midwest Bank & Trust, according to property records. The conversion of the terra cotta and concrete building was designed by Hartshore + Plunkard Architecture.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. Apartments 2020Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.