Inland Real Estate Brokerage & Auctions Inc. announced the sale of a 45,000-square-foot loft office building located at 520 W. Erie St. in Chicago.
Ashley Dillard, broker associate, represented the out-of-state buyer, Gamla Cedron Erie LLC, in the sale. The REO property was taken back by Harris Bank in the fourth quarter of 2012.
“This building fit the investment parameters of my client and offered the bank a strong, cash purchaser with the experience and capacity to close,” Dillard said.
Located in River North, the building is close to downtown, public transportation, shopping and numerous restaurants. The property is currently 82 percent leased and sits across from the river and Erie Park.
The sale was co-brokered by Paul Dincin of Catapult Real Estate Solutions.