Quote:
Originally Posted by spyguy
http://chicagorealestatedaily.com/cgi-bin/news.pl?id=27843
Site near Merchandise Mart sells for $11.8 million
By Alby Gallun
Jan. 22, 2008
A Texas developer has paid $11.8 million for a property just east of the Merchandise Mart where it plans to build a 32-story apartment tower. San Antonio-based Lynd Co. bought the parcel at 161 W. Kinzie St. on Dec. 20 from Chicago-based developer Sterling Bay Cos., according to documents filed with the Cook County Recorder of Deeds. It would be the first Chicago project for Lynd, which wants to build a high-rise with 263 apartments, 25,000 square feet of retail space and 213 parking spots. Chicago-based architecture firm Valerio Dewalt Train Associates designed the building, which was approved by the Chicago Plan Commission in October.
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I had thought 161 W. Kinzie never actually made it to Plan Commission. Does anyone know if it did, or did this reporter get it wrong?
I had heard rumblings a couple months ago that this developer from Texas (Lynd Co.) was walking away from this project, but if they've actually closed on the parcel, I guess that wouldn't be the case, thankfully. Like 1401 S. State, I really like this tower, and always look forward to more VDT downtown!
Also, Steely I know you had asked - this is definitely rental, as I believe that's all the Lynd Co. does - develop, own and operate rental communities...