A long-stalled condominium project across from Millennium Park is back on its feet.
Chicago-based brokerage @properties is getting ready to start selling condos in a vintage office building at 6 N. Michigan Ave., a project launched seven years ago by a little-known developer.
The developer, Chicago-based Global Real Estate Investors LLC, defaulted on a $44.8-million construction loan, so one of the project’s lenders, Oak Park-based FBOP Corp., is finishing the job.
Though the condo market has slowed, the bank’s timing could be good. The neighborhood has become increasingly popular with condo buyers since the opening of Millennium Park in 2004.
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