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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.”
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- ◦Sale/Acquisition

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