Bradford Leasing Troubled River North Bldg.

CHICAGO- Bradford Allen announced last week that the firm has been hired as the exclusive leasing agent and property manager for 357-363 W. Erie in Chicago’s River North area. Even though it sits in the heart of River North, one the hottest downtown submarkets, the building has not seen much success in recent years. In June 2009, Oregon-based Aspen Capital Funding purchased a non-performing loan on the building through a joint venture, and noted at the time that the property owner had declared bankruptcy.

The new owner, Brijus Capital, purchased the building earlier this month and plans extensive improvements to the 115,000-square-foot property.