Angelo Gordon & Co. Acquires South Side Baking Plant In Chicago For $20.3M

The industrial property at 3700 South Kedzie Avenue in Chicago, IL, 60632 was sold for $20.3 million. The 189,000-square-foot building was acquired by Angelo Gordon & Co. as part of a sale-leaseback deal with Gold Standard Bakery. Citi Real Estate Funding provided a $27.4 million loan for the transaction.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $20,300,000.00
• Address: 3700 S Kedzie Ave, Chicago, IL, 60632
• Market: Chicago
• Seller's Reps: Mike Wilson (Avison Young), Todd Heine (Colliers International)
• Buyer: Angelo Gordon & Co.

Angelo Gordon & Co., a New York-based firm, made the significant purchase of the baking plant on the South Side of Chicago. The acquisition involved securing financing through a substantial $27.4 million loan provided by Citi Real Estate Funding. The deal, structured as a sale-leaseback with Gold Standard Bakery, marks Angelo Gordon & Co.'s entry into Chicago's active industrial market.