Gold Coast rental condominium tower, Walton on the Park South, and an adjacent 17,180-square-foot development site zoned for 261 residential units, have been acquired by Miami developer, Crescent Heights Inc. Located at 2 W. Delaware St. in Chicago, the sale included 160 units of the 201-unit high rise and the neighboring parcel.
An unsolicited offer was generated by Jerry Goldner, vice president of investment sales at SVN | Chicago Commercial, who represented the purchaser in the transaction. Goldner a 34-year veteran of the Chicago commercial real estate market, was also the sole broker of Cityfront Center Plaza Phase II, now referred to as the Optima Chicago Center.
Kevin Maggiacomo, CEO of Sperry Van Ness, who is familiar with the details of this transaction, confirmed it is the single largest deal transacted in the firm’s history.