Chicago's Belden-Stratford To Change Hands For $60M

Law360, New York (November 23, 2011, 6:57 PM EST) -- Real estate manager IRMCO Properties and Management Corp. will sell its historic Belden-Stratford apartments to Chicago investment firm Laramar Group for roughly $60 million, according to Wednesday news reports.

The Belden-Stratford, a 16-story residential hotel located on Lincoln Park West in Chicago, belonged to a six-building portfolio that IRMCO had put up for sale, with real estate investment brokerage HFF LP seeking buyers for the properties, Crain’s Chicago Real Estate Business Daily reported.

Crain’s said that IRMCO president Janice Greenberg declined to reveal the sale price...
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