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Wednesday, March 21, 2018

Crain's Chicago Business: Empty restaurant space next to Water Tower fetches $15 million


Crain's Alby Gallun reports:

"A Florida investor has paid $15.1 million for an empty retail space just off North Michigan Avenue, betting it can boost the value of the property by finding a new tenant to move there.

Sterling Organization said a fund it manages acquired the former home of the Bar Toma and Bistro 110 restaurants at 110 E. Pearson St., a 10,051-squarefoot space just north of the Chicago Water Tower. The space has been empty since Bar Toma closed in January 2017."

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