CHICAGO—Investors have recently bought some of the city's top downtown properties for whopping prices, and now a foreign investment fund has paid big money for a mixed-use complex in the Lincoln Park neighborhood.
A fund represented locally by LaSalle Investment Management purchased Blackhawk on Halsted, a 224,000-square-foot property at 1460 N. Halsted St. for $130 million, according to Cook County property records. It's a big gain for Chicago-based Structured Development, which completed the property in 2009 and bought out its partner in 2012 for $82 million.
The fully leased retail and medical office property consists of three structures: an 82,901-square-foot building that houses the British School of Chicago, which has a lease that runs through 2040; an adjacent mixed-use building that includes 48,016 square feet of retail and 93,287 square feet of medical office space; and a 550-vehicle parking garage.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
