WEST LOOP — A New York-based developer has bought a May Street building near Randolph Street in the West Loop.
CLK Properties bought the building at 112 N. May St. for $7.7 million last week, according to Realtor Marc Bombicino with Conlon Commercial. Bombicino represented the seller and Danny Spitz and Greg Dietz, managing directors at Baum Realty Group, represented the buyer in the deal.
The 30,000-square-foot, all-brick and timber building houses Arista Foods, a family-owned deli and market specializing in wine, beer and spirits, and Vessel Yoga. The property sale included a 28-space parking lot.
The developer plans to seek a new retail tenant or tenants on the first floor of the building and is still contemplating the best use for the second and third floors of the building, according to Dietz. The sale closed on Dec. 1.
"The opportunity to reposition a dynamic loft building with a commanding presence just off Randolph Street in Chicago’s No. 1 submarket is an exciting proposition for any investor," Spitz said.
CLK has bought a handful of Fulton Market properties in the past 1½ years, including 1101 W. Fulton Market and 222 N. Aberdeen St. near Google's new offices, and 327 N. Aberdeen St., 1144 W. Fulton Market and a parking lot at 351 N. May St., according to the Chicago Tribune.
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