Monday, October 24, 2016

Last Menetti-Owned Building In Uptown Sold

4526 Sheridan. Photo courtesy of Google Streetview
The Menetti Family hasn't had a lot of luck with its North Side real estate holdings. They didn't do upkeep on the residences, they didn't pay taxes, and they didn't pay their mortgages. So in 2012, they put five of their North Side holdings on the market, and a judge put a receiver in charge, meaning that the Menettis lost the right to control their own properties.

One of the buildings, Lawrence House, had been nearly run into the ground by the family, who acquired it in 2000. In just over a decade, Lawrence House had accumulated 110 housing violations, was in foreclosure, and was described as "notorious." It was bought by Cedar Street Properties in 2013.

Now Crain's reports that the family has sold three more of its properties, including 4526 North Sheridan, also known as the Sheridan View Apartments. According to Crain's, 4526 and two buildings in Rogers Park also included in the deal are "almost 40 percent vacant and need cosmetic and structural work."

The sale of the three buildings ends the Menetti Family's five-year-old foreclosure case, brought by its lender in January 2012.

The new owner of 4526 North Sheridan is Metro Residential, the residential arm of the parking structure owner Metro Park LLC.


  1. Judging from its architecture, this must have been a very stately residential hotel back in the days when Uptown was a very stately neighborhood. That stretch of Sheridan needs all the help it can get (thankfully, the ruin that was next door has finally been rebuilt), and I hope the new owners are prepared to spend multi-millions of dollars renovating and restoring it to its past glory. Now if someone will buy that old, once luxurious hotel just south, maybe things will really start turning around.

  2. Goodbye and good riddance to the slumlords of the North side!

  3. I'm still wishing everyday that someone buy the Men's Hotel on Wilson because that's the one that will definitely make the biggest change along the Wilson strip. If not the multimillion station will just be another hang out for all the gang members selling to their regular costumers who loiter in the immediate area.

  4. Yup. That just means I'm probably going to be homeless, whenever the new owners get around to converting the place into middle-classed hipster dwellings.