Sequoia Realty Group announced today that it has been retained to provide Property Management and Brokerage Services to 520 West Erie Street in Chicago’s River North neighborhood. Private investment group Gamla Cedron Erie, LLC recently closed on its purchase of this 45,000 square foot loft office building.
“The location of this building, which is currently 82% leased, offers current and future tenants access and views to downtown Chicago and the tightening River North office market”, said Mark Levy, President of Sequoia Realty Group. The site offers ready access to public transportation, restaurants, city views, and beautiful park space just across the street.
Ownership is reviewing potential building and site improvements. First floor retail space is being targeted to service the occupants in the building and the surrounding neighborhood. “After a long period of distress, ownership and management are excited at the opportunity to stabilize this asset and improve the tenants’ experience”, said Levy. “This is a building that has great bones and just needs the proper attention to bring it back to its former stature.”