The purchase price included the mostly studio and one-bedroom historic lofts, though there are two- and three-bedroom units and a nearly 8,000-square-foot Pizano’s Pizza & Pasta restaurant. There’s an adjacent 19,000-square-foot parking lot that could be reimagined, according to Interra Realty, the Chicago-based commercial real estate investment services firm that was the broker on both sides of the deal.

“This transaction is the largest multifamily sale in the South Loop since March 2019, demonstrating growing investor interest in the area around McCormick Place,” said Interra Managing Partner Lucas Fryman in a statement.

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