Mike Drew Of Structured Development Repurchases Chicago Office Building For $10.5M

The office building located at 1333 North Kingsbury Street in Chicago was sold for $10.5 million. The property spans 100,000 square feet, resulting in a price per square foot of $105.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $10,500,000
• Buyer: Mike Drew - Structured Development
• Brokers: Bruce Miller, Jaime Fink, Patrick Shields, Sam DiFrancesca & Jennifer Hull - JLL
• SF: 100,000
• Address: 1333 North Kingsbury Street, Chicago

Veteran developer Mike Drew led the repurchase of the property, intending to convert it into approximately 200 apartments. This shift towards residential conversion aligns with the trend of repurposing underutilized office buildings, reflecting evolving market dynamics.