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KC Art Deco Apartment Property Seeks $49M Buyer
The owner of an historic Kansas City structure is seeking to sell the Art Deco apartment property for $49 million.
Dallas-based 909 Walnut Management Company will take offers until Feb. 28 for the building. The property includes 152 units; a nearby eight-story, 310-space garage; and office space that headquarters the EPR Properties REIT. A coffee shop also is on the premises.
The 1931 building, which has been called the tallest Midwest residential property outside of Chicago, initially housed Fidelity National Bank’s headquarters. It was renovated into apartments and smaller office space in 2005.
Institutional Property Advisers, a Marcus & Millichap division, listed the property.
“The owner restored the property to its former glory, and converted the first four floors into single-tenant Class A office space and the top 30 floors to luxury condominium-style,” Daniel Burkons, senior managing director of Institutional Property Advisers, told RE Journals.
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