Vultures see rental potential for Trio's tower and 1400 Lake Shore Drive

Trio, 670 W Wayman St, Chicago 1400 Lake Shore Drive, Chicago

“We would lose the properties one way or another. This seemed like the most responsible way to go.”

RDM Development President Robert Mosky, on his decision to hand over 185 condos at Trio and 1400 Lake Shore Drive to Bank of America through deed in lieu of foreclosure.

Boston-based AEW Capital Management and Naperville’s Marquette Companies purchased the condos for approximately $35 million in September and will market them as rental apartments, according to a now-firewalled feature story at Crain’s Chicago Business.

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