Saturday, November 19, 2016

Sloopin Open House: Got $7.1 Million?

On Saturdays we often try to highlight unique open houses.  Today, it's not an open house, but it's a strange real estate opportunity (via Crains):
Two years after putting a block of 141 condos in a South Loop building up for sale individually, a Los Angeles-based investment group hopes to close out the inventory soon by offering the last 15 in bulk to somebody who wants to finish the job. 
"They're ready to exit and want to hand what's left to somebody else," said George Toscas, the ACO Commercial vice president who is representing 15 unsold condos at the Guild, the 14-story tower at 50 E. 16th St., for owner Oaktree Capital Management.  
The effort to sell them individually to homeowners, brokered by @properties, will continue concurrently, Toscas said. The bulk asking price is not specified but would be approximately the sum of the asking prices of the 15 units, $7.1 million, Toscas said.

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