Greenstone Partners has announced the sale of a 100% lease mixed‐use property at 1020 W. Madison in the West Loop neighborhood. The 15,000 square foot property is home to the restaurant Monteverde and the event venue, Loft Lucia.
The off‐market transaction was sold on behalf of the seller by Danny Spitz, CEO and Managing Partner at Greenstone Partners.
The corner property at Madison and Carpenter was built in 2013 and Monteverde was the first retail tenant at this location. After they opened in 2015, it was named one of the ‘12 best new restaurants’ in America. Loft Lucia is a 150‐capacity event venue with both indoor and outdoor rooftop gathering space. The property also has favorable zoning for potential future expansion or conversion to residential use.
The buyer, a private out‐of‐state investor, bought the building as a long‐term investment based on the location and quality of the building and tenants. The buyer was represented by David Chasin of Pegasus Investments out of California.
