Search
 

Lincoln Park Buildings Fetch $28 Mil

CHICAGO-Although 90% of the units are studios, the former hotels at 443 and 451 W. Wrightwood Ave. command a purchase price of $82,184 per unit in a deal brokered by the Chicago office of Inland Real Estate Sales, Inc.

By Mark Ruda | Updated on November 28, 2001

CHICAGO-Two adjoining multifamily rental buildings on the 400 block of West Wrightwood Ave. in the Lincoln Park neighborhood have sold for a reported $28.6 million, which brokers says is the largest apartment deal in the community this year. The buildings at 443 and 451 W. Wrightwood total 348 units, mostly studio apartments, but still traded for $82,184 per unit.

“The Wrightwood properties are two of the most recognizable buildings in Lincoln Park, one of Chicago’s most prestigious neighborhoods,” says Ken Goldberg, part of the Inland Real Estate Sales, Inc. team that brokered the deal. “These trophy properties are just steps away from Lincoln Park and Lake Michigan.”

James W. Purcell of BJB Partners bought the buildings, which were built as hotels in 1928. Architect Raymond Gregori used Eastern, Renaissance, Venetian, and Assyrian features in the brick side-by-side buildings, which both have 30-foot-high ornamental ceilings in their lobbies. 443 & 451 West Wrightwood Limited Partnerships was the seller.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.