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CHICAGO-A seven-story, 56,000-sf West Loop industrial building formerly used by a printing company has sold for the second time in a year, this time for $5.1 million. About a year ago, the same building at 123 N. Sangamon St. sold for $4 million, according to documents on file at the Cook County Recorder of Deeds office.

The city council already has approved converting the 87-year-old former Soodik Printing Co. building into 47 loft condominiums. Indeed, the 2005 sale was from Gramercy Lofts, LLC. PEAK Construction Development, LLC took over the conversion with a $10.7-million loan from MB Financial Bank. Now known by its street address, the loft building was recently sold to another limited liability corporation, who financed its purchase with a $7.1-million short-term loan from Hinsdale-based Midwest Bank & Trust, according to property records. The conversion of the terra cotta and concrete building was designed by Hartshore + Plunkard Architecture.