SVN Chicago Commercial has completed the sale of 909-25 W. Belmont Avenue in Chicago’s Lakeview neighborhood. Alderman Tom Tunney sold the properties, including a sale-leaseback of the original Ann Sather restaurant, which Tunney also owns.
Jeff Baasch, senior vice president at SVN, arranged the $10,000,000 transaction. Tunney retains the rights to continue operating the restaurant, located at 909 W. Belmont, for 10 years.
“My restaurant, Ann Sather, along with its parking lot in back, will continue to operate uninterrupted in our current location at 909 W. Belmont via an extended lease back arrangement,” Tunney said in a statement. “The Ann Sather locations at 3415 N. Broadway Street and 1147 W. Granville Avenue are leased locations, which I also will continue to own and operate.”