Sub Markets

Property Sectors

Topics

Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
Chicago & Midwest  + North Side  + Apartments  | 

Mansueto Reportedly Buying Belden-Stratford Apts.

A few months after acquiring the Wrigley Building downtown, Morningstar founder Joe Mansueto has reportedly agreed to buy another vintage trophy, this time on the North Side. Crain’s Chicago Business reported that Mansueto Properties will acquire the Belden-Stratford apartments in Lincoln Park from PGIM Real Estate for more than $100 million.

The 297-unit, 16-story Beaux Arts apartment tower came onto the market this past September, for the third time since 2011. Moran and Company was hired to market the property on behalf of PGIM, which paid $86.8 million for it in 2013.

”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.”


Get Chicago News in 150 Words

For comments, questions or concerns, please contact Paul Bubny

Read More News Stories About: PGIM
Connect

Inside The Story

Read more at Chicago Business

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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 GlobeSt.com 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).

  • ◦Sale/Acquisition
New call-to-action
New call-to-action