It has been reported that this 46 story skyscraper building owned by a New York based firm - Broadway Partners Fund Managers, LLC. has to come up with $48,000,000 on this building or RISK FORECLOSURE!
Originally named the Heller International Building, this building is the tallest skyscraper west of the Chicago River.
It's address: 500 West Monroe.
This building was purchased for an amount close to $337,000,000 in 2007.
Now, I'm wondering how does www.Zillow.com would put a price tag on this one?
There is no comparison of a skyscraper to a small home in Chicago, when it comes to pricing/valuation. But wouldn't it be interesting if a skyscraper were handled the same way short sales for small residential properties?
Talk about multiple offers!
Photo by Flicker: hannerola
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