Site for planned 73-story tower sells for $17 million
11 May 2016
“Two New York developers that plan a 73-story residential tower on a vacant property across from Grant Park paid $17.2 million for the site, the latest in a series of deals that illustrate the real estate market’s recent roller-coaster ride. A joint venture between JK Equities and Time Equities bought the parcel at 1000 S. Michigan Ave. last month from First American Bank, Cook County property records show. The site has been on a wild trip over the past decade or so, with its value soaring during the condominium boom, crashing after the bust and heading back up as the residential market bounced back.”
Read the full story on Crain’s Chicago.