New Rental Building In Evanston IL Sells For A Record High Price
By Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917
(Coldwell Banker)
The rental apartment building at 1717 Ridge has just been sold for $70 Million Dollars to Invesco LTD. The building was sold by Focus Development and they had not even finished leasing out all the units. It is the highest price ever paid for a rental property in the Chicago Land. The now former owner paid $55 Million for the building which is located in front of the 2 Sienna condo buildings. They have an address of 1720 and 1740 Oak and the site of these 2 buildings was originally supposed to be 2 additional Sienna condo buildings. The developer of the Sienna buildings was Tom Roszak whose complex went bankrupt due to bad market timing and the property then went into foreclosure. All the Seinna units were then sold at great prices. An empty space was left where the new 1717 Ridge buildi...
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