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CHICAGO-A venture headed by Stuart Handler of Chicago-based TLC Management Co. has paid $15 million to acquire the Madison Park Apartments, a 150-unit vintage property located at 1380 Hyde Park Blvd. near President Barack Obama’s home from Ibrahim Shihadeh, a Chicago-based company controlled investor.

Mr. Handler received a loan of $12.9 million from Northern Trust Co. to pay for the deal. He is planning to spend about $2 million to renovate the eight-story building and build a fitness center. For the full story, go to Crain’s Chicago Business.

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