Sunday, July 8, 2018

Foundation Buys Vintage Building At Sheridan & Lawrence

The vintage building at the southeast corner of Lawrence and Sheridan has a new owner. 4751-59 North Sheridan, which was owned by Philipp Rotheimer for many years, was recently sold by his estate for $3,300,000.

The 1908 building contains 14 large apartments and five retail spaces, including Papa Ray's Pizza and NY Subz. It also has a lot of deferred maintenance, with 78 current building code violations.

The buyer was the David and Reva Logan Foundation, which in late 2016 made a large donation to the cash-strapped overnight men's shelter run by North Side Housing & Supportive Services so that it could remain open. The men's shelter is located at the Preston Bradley Center, right next door to the newly purchased building.

Last March, the same foundation (via Richard Logan) bought the vintage building at 4654 North Sheridan for $1,395,000 on behalf of Sarah's Circle. That building will be razed to make way for a new women's shelter. It will take the place of the shelter space Sarah's Circle currently rents in the ICA GreenRise building at 4750 North Sheridan.

Old-timers might remember the corner retail space as the original home of Pasteur Restaurant.

No comments:

Post a Comment