
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.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition