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Terrapin-Taxman JV Plans $100M Retail, Condos

CHICAGO-A joint venture is proposing 100,000 sf of retail and 230 condominium units in two buildings, with a retail tenant close to signing.

By Gina Kenny | Updated on July 16, 2007

(Read more on the multifamily market.)

CHICAGO-Terrapin-Taxman LLC has acquired a 79,000-sf development site near the intersection of Madison and Halsted streets here. The joint venture between Chicago-based Terrapin Properties LLC and The Taxman Corp., based in Skokie, IL, acquired the parcel from MB Financial Bank.

Executive vice president Jim Whittington and assistant vice president Jason Gill, both with US Equities, represented MB Financial Bank in the sale. The sales price was not disclosed. A $100 million retail and condominium project is planned for the site, says Michael Ezgur, principal with Terrapin Properties.

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