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Home To Maple & Ash Restaurant Sells For Eight Figures
CoStar Group
1100 N State, home to hip new steakhouse Maple & Ash and an Urban Outfitters, sold for $53.2M, a sign of the strength of real estate in the Gold Coast.
Elysian Hotel developer David Pisor and Maple & Ash owner Jim Lasky tore down the Hunt Club to build 1100 N State. The sale price breaks down to $2,020/SF and a mid-4 cap rate, Crain's reports.
The Gold Coast is picking up in real estate activity. Don Wilson's 180-room Viceroy Hotel was issued a construction permit by the city in February. The owners of 1139 N State St put that building on the market in March as a golden redevelopment opportunity. The buyer, the State Teachers Retirement System of Ohio, also has investments at The Streeter at 345 E Ohio and 77 W Wacker. [Crain's]
