Hartz Mountain buys One Superior Place for $300M

One Superior Place, ChicagoOne Superior Place, the 52-story residential and retail tower at 1 W Superior St in River North, has sold, in what the Wall Street Journal calls “the largest US apartment-building transaction of the year.”

Hartz Mountain Industries — a company once known for producing bird feed and pet supplies and that once owned The Village Voice — purchased the building and the land underneath for more than $300 million. Based on an October 2010 article from Crain’s, the sale may be the biggest deal for a local apartment development since the $475 million sale of Presidential Towers in 2007.

One Superior Place features 809 apartments, two floors of retail and commercial space (currently occupied by tenants like Whole Foods, Roy’s Restaurant, and PNC Bank), and a six-story parking garage.

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