Interra Realty has brokered the $10 million sale of an eight-unit condominium building at 1447 N. Dearborn Parkway in Chicago’s Gold Coast neighborhood.
Interra Director Max Grossman represented the buyer, Altitude Capital Partners (ACP). Interra Director Colin O’Malley represented the confidential seller. “Following an aggressive marketing campaign which included over 60 tours, we fielded multiple offers and secured a contract in about a month, helping to kickstart a transformation that ultimately will breathe new life into this property,” said O’Malley.
Originally constructed in 1901, the 45,000-square-foot courtyard building was renovated in 2010 with a limestone and brick facade and other touches. Though it has been vacant since its reconstruction, the property has been kept in excellent condition.
The large, white-box residences range from 2,500 to 5,500 square feet and include two-, three- and four-bedroom layouts, with some duplex units. ACP will complete the unit interiors with high-end finishes and sell them as condominiums.
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