Interra Realty recently brokered a $15 million loft office building at 303 W. Erie St. in Chicago’s River North neighborhood. Jon Morgan and David Goss Co-Founders at Interra, represented the buyer in the transaction along with the seller, Chicago-based Cedar Street. The six-story, 70,000 SF building with an adjacent parking lot was sold to New York-based Alvarez & Marsal Property Investments.
Goss and Morgan of Interra Realty, through an affiliate company, were invested side by side with the Cedar Street venture that acquired the building in 2012 for $11 million. The office space is almost fully leased to small office tenants. Interra Realty also facilitated the lease of the ground floor restaurant space to Concrete Cowboy, a bar and restaurant originally based out of Texas that is set to open in the next few months.
“We’ve worked with Cedar Street on several ventures as brokers and investors over the last several years, this happened to be one where we were both,” Morgan said.