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Chicago & Midwest  + Downtown  + Retail  | 

FL Investor Snaps Up Former Bar Toma Location

Florida-based investor Sterling Organization has acquired the former home of chef Tony Mantuano’s Bar Toma restaurant for $15.1 million. The 10,051-square-foot retail space, at 110 E. Pearson St. in Chicago’s Magnificent Mile shopping district, has been vacant since January 2017.

“We see this high street retail property on Pearson Street as a rare opportunity to own what could be a trophy asset with proper execution through strategic lease-up,” said Sterling CEO Brian Kosoy. He cited the property’s “clear and permanently unalterable sightlines from Michigan Avenue and its proximity to the historic Water Tower,” as well as “the vibrancy of the submarket.”

The seller, Levy Restaurants, was represented by Derrick Almassy and George Good of CBRE. Sterling now owns five assets totaling more than 1.6 million square feet in the Chicago metro area, part of a national portfolio of nearly 9.5 million square feet.

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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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