CHICAGO, IL–(Marketwired – Jul 11, 2013) – A joint venture owned by Frontline Real Estate Partners, LLC and Cedar Street Co. has purchased 500 North LaSalle Drive as part of a larger portfolio of assets acquired by the joint venture last month through the Qualteq Inc. bankruptcy case.Located at the corner of LaSalle Drive and Illinois Street in Chicago’s prime River Northneighborhood, the 17,400 square foot building was built in 1887 and became a Chicago Landmark in2001. Formerly Michael Jordan’s restaurant, the property will be fully occupied by the Chicago pizzachain Gino’s East which is relocating from its current flagship location at 633 N Wells St. “We are excited to add this historically significant, landmark property to Frontline’s rapidly growing portfolio of retail assets. We are looking forward to expanding our presence in the River North neighborhood and further cementing our joint venture relationship with Cedar Street” says Mitch Kahn, Principal of Frontline Real Estate Partners, LLC.
About Frontline Real Estate Partners
Frontline Real Estate Partners, LLC is a Chicago-based real estate investment and advisory company with expertise in the acquisition, management, disposition, and leasing ofcommercial real estate properties throughout the United States.Founded in 2010, Frontline invests in value-add properties and provides transactional and advisory services to banks, financial institutions, and owners with a focus on the real estate restructuring industry.