Cedar Street Co. has acquired 1050 W. Wilson in the Uptown neighborhood of Chicago. The building was purchased for $625,000 and financed by First Bank & Trust Co. of Illinois.
Located at the corner of Wilson and Kenmore avenues, the three-story, 15,000-square-foot building on .23 acres was built in 1908 and is a large part of Uptown’s historic landscape once being a theatre and bank. Cedar Street Co. is seeking to secure a unique tenant that not only respects the grandeur of the space, but also adds value to the Uptown community.
Additionally, Cedar Street Co. has refinanced its 1325 W. Wilson property in the Uptown neighborhood of Chicago with the proceeds of a $7 million acquisition and construction loan from Republic Bank. This financing enables Cedar Street Co. to retire the existing loan while advancing the FLATS Chicago development process.
The property will be re-branded under Cedar Street Co.’s upcoming FLATS Chicago brand as No. 1325 and will feature 116 lifestyle rental units, 24 hour door staff, roof deck lounge, large health club, free wi-fi, in-unit washer/dryer’s, and a celebrity chef helmed restaurant.
