Jameson Realty Group's Closes Sale of Historic South Loop Properties

Jameson Realty Group’s, Commercial Division announces the sale of three properties in the South Loop anchored by the building that formerly housed the headquarters of the "Chicago Defender" newspaper. Jameson represented a private investor in the sale to an investment group that included Matt O’Malley of “Mainstay Hospitality” operators of the Chicago Firehouse restaurant. The Defender building was built for the “Illinois Automobile Club” in the late 1930’s and was designed by Philip Maher.

The building is comprised of 25,000 sq.ft. above grade and an additional 30,000 sq.ft. in basements. In its original form it housed racket-ball courts, a bowling alley and a swimming pool as well as offices, meeting rooms and an ornate board room. Also included in the sale were a 14,000 sq. ft. vacant lot at 2409 South Wabash and the “Tiki Room” property at 55 East 24th St (once rumored to be owned by Jesse Owens). The exact plans for the property by the new owners were not known. Phil Gibby and Ken Ross of Jameson represented the seller in this transaction.

Jameson’s commercial real estate division posted sales and leasing transactions valued at more than $100-million in 2006.

For more information on commercial property, contact Phil Gibby or Ken Ross for Jameson Realty Group at 312-751-0300, or log on to the Jameson website at www.jameson.com.
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