Friday, October 24, 2014

Windy City RE LLC Going on Motor Row Buying Spree

2210-2212 S. Michigan
Via Crains:
Windy City RE LLC is going as long as anyone is on Motor Row, teeing up a spate of acquisitions in the area next to McCormick Place. 
The Chicago-based firm is acquiring around 70,000 square feet of mostly vacant commercial properties and an empty lot near the massive convention center, betting the city's investments in a stadium for DePaul University, new hotels and a new stop on the Green Line at Cermak Road and State Street will allow it to find tenants to fill up the buildings. 
“We're trying to do what the Friedmans did in River North,” said Windy City Partner Milan Rubenstein, refering to Friedman Properties Ltd., which gobbled up properties in the neighborhood over many years, before it became hot.
If you've got the money, it seems like a good investment to us.  Yes, things are slow in and around Motor Row, but it's going to has to, right?  We've been saying this since we moved down to the Sloop in 2008...sigh.

Anyway, here is a list of the properties Windy City RE LLC has bought or are in the process of buying (via Crains):

  • 2210-2212 S. Michigan Ave 
  • 2216 S. Michigan Ave. 
  • 2244 S. Michigan Ave. 
  • 2112 S. Michigan Ave. 
  • 2241-2245 S. Michigan Ave. 
  • 1449 S. Michigan Ave. 
  • 2012-2036 S. Michigan Ave. 
  • 2001 S. State St. 
  • 2000 S. Wabash Ave.

Seems like a nice little "monopoly" stretch they're acquiring.

(Hat tip:  TOC!)

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