Range Group Acquires Office And Parking Lot In Chicago From Thomas Owens For $4.7M

The property involved in the transaction consists of office space and a parking lot located at 415 North Aberdeen Street and 1044-48 West Kinzie Street in Chicago's Fulton Market District. The sale price was $4,700,000 for these assets, which span a total area of 67,000 square feet, yielding a price per square foot of $70.

Summary of transation details:

• Property Type: Office & Parking Lot
• Transaction Amount: $4,700,000
• Buyer: Seth Halpern, Jared Rubin & Brett Katz - Range Group
• Seller: Thomas Owens
• Brokers: Jeffrey Baasch & Emily Gottlieb - AW Properties Global
• Market: Chicago

The transaction allowed Range Group to resolve a $4.4 million foreclosure case connected to the seller, Thomas Owens. Additionally, the deal grants Range Group development rights for a potential 350,000-square-foot project in the area, which is considered one of the city's most sought-after neighborhoods.