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Vornado Sells 400 N. LaSalle for $126M

CHICAGO-The deal involving the 452-unit multifamily rental building does not include a parking garage, which serves Paramus, NJ-based Vornado Realty Trust's Merchandise Mart.

By Mark Ruda | Updated on April 25, 2005

CHICAGO-A 452-unit multifamily rental building at 400 N. LaSalle St. has been sold for $126 million. The building, which includes studio, one- and two-bedroom units, was sold by a joint venture controlled by Paramus, NJ-based Vornado Realty Trust, which had an 85% share in the building.

Vornado Realty Trust declined to identify the buyer of the building, where rents range from $990 a month for studios to $2,271 a month for two-bedroom units. The REIT retains a garage next to the River North building, which provides parking for its 3.5-million-sf Merchandise Mart.

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