Metropolitan Place

130 S. Canal St. Chicago, IL

The first major conversion of a downtown Chicago office building to residential use was the former Florsheim Shoe Company headquarters and manufacturing facility. Four new floors were added onto the original structure to create 212 luxury condominiums, 240 heated indoor parking spaces and 22,000 square feet of first floor retail space leased to tenants including CVS, Starbucks and Kinko’s.

2 E. 8th

Chicago, Illinois
330 units

Ansonia affiliate purchased the non-performing first mortgage note on this 28-story mixed-income high-rise provided a path to acquisition of the fee interest at a time when tax considerations ruled out a sale by the owner. Ultimately the property was acquired by a deed-in-lieu of foreclosure. Net operating income from the 330 apartments, 204 parking spaces and 30,000 square feet of retail space increased by more than 150% in the first full year of operation, as new management practices were implemented and rents were rationalized and brought to market rates. To help support the repositioning of the property, the common areas were renovated and deferred life-safety and maintenance items were addressed.