Grand Plaza West Tower Acquisition
By
David Roeder
Chicago Sun-Times
August 3, 2005
MONDO CONDO: Chicago's Terrapin Properties closed on the acquisition of the 37-story Grand Plaza West Tower apartment building at 545 N. Dearborn. A source said the price was upwards of $90 million. A condo conversion is in the immediate works, with purchase options being offered to current tenants. Sales to outsiders are expected to start in September.
Terrapin partnered in the deal with Jerry Jaeger. Sellers were a high-powered group that includes Joel Carlins, Jim Loewenberg, C.A. "Bud" Cataldo, William Marovitz and U.S. Equities Realty's Robert Wislow.
Copyright (c) 2005, Chicago Sun-Times
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