The Gammonley Group, builder of 1111 S. Wabash, has bought out the Prairie Tower project in the South Loop from Bejco Development. Prairie Tower was the last Chicago project under development by Bejco, which lost its River Bend and Prairie House projects to Lehman Bros. last year.
Gammonley has renamed the 156-unit development Prairie Pointe. About 50 of the planned condos already have been sold, and the new developer plans to break ground this fall.
The development, at 16th and Prairie, includes a 23-story highrise and adjacent townhouses.
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