March 18, 2019
Tandem Partners has recently closed on the acquisition of a development site at 1050 W. Van Buren St. in the West Loop for an undisclosed sum. The new ownership plans to redevelop the site to a 201-unit high-rise apartment building, one of two for which it received approvals from the Chicago Plan Commission this past November.
Zach Pruitt, now with Cawley Chicago, represented the ownership, Guy & Sons Auto, in the sale. Guy & Sons had operated in the West Loop for more than 45 years.
“With changes in their industry, their business deterred drastically and they could not see where their exit was,” said Pritt about the Guy & Sons ownership. “By positioning their sale for development, and achieving our pricing, we found their silver lining in all the long hours their family put in over 50 years and two generations.”
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