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Chicago & Midwest  + North Side  + Apartments  | 

Belden-Stratford Comes to Market for 3rd Time Since 2011

Moran and Company has been hired to market the Belden-Stratford, a circa-1923 apartment property in Lincoln Park. PGIM Real Estate, the current owner, paid $86.8 million for the 297-unit property in December 2013, Crain’s Chicago Business reported.

”Demand in Lincoln Park is strong as Chicagoans, both young and old, have desired to live in this upscale residential neighborhood for decades,” according to a marketing brochure from Moran. “The Belden-Stratford captures this demand by offering a connected yet tranquil living experience in a historically significant community overlooking the 1,200-acre Lincoln Park and Lake Michigan.”

The property is well north of a proliferation of new apartment development downtown. However, according to Moran’s brochure, it’s “convenient to new job growth moving north.”

A sale would represent the third time the Belden-Stratford has changed hands in the past seven years. PGIM acquired it from the Laramar Group, which had paid $59.3 million in 2011.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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