SOURCE: Frontline Real Estate Partners, LLC

Frontline Real Estate Partners, LLC

July 11, 2013 08:00 ET

Frontline Real Estate Partners & Cedar Street Co. Purchase 500 North LaSalle, Former LaSalle Power Company

CHICAGO, IL--(Marketwired - Jul 11, 2013) - A joint venture owned by Frontline Real Estate Partners, LLC and Cedar Street Co. has purchased 500 North LaSalle Drive as part of a larger portfolio of assets acquired by the joint venture last month through the Qualteq Inc. bankruptcy case.

Located at the corner of LaSalle Drive and Illinois Street in Chicago's prime River North neighborhood, the 17,400 square foot building was built in 1887 and became a Chicago Landmark in 2001. Formerly Michael Jordan's restaurant, the property will be fully occupied by the Chicago pizza chain Gino's East which is relocating from its current flagship location at 633 N Wells St.

"We are excited to add this historically significant, landmark property to Frontline's rapidly growing portfolio of retail assets. We are looking forward to expanding our presence in the River North neighborhood and further cementing our joint venture relationship with Cedar Street" says Mitch Kahn, Principal of Frontline Real Estate Partners, LLC.

About Frontline Real Estate Partners

Frontline Real Estate Partners, LLC focuses on acquiring distressed real estate assets across the U.S., as well as providing real estate consulting and advisory services in bankruptcy and distressed situations. The company is an experienced, sophisticated buyer of real estate assets, with the company's leadership team having acquired a substantial portfolio of retail and industrial assets, including sale-leasebacks and empty facilities. Frontline also serves as a trusted advisor to lenders, bankruptcy attorneys, turnaround consultants and companies with real estate restructuring needs. Principal services include strategic advising and consulting on portfolio management, restructuring, disposition, receivership and turnarounds. The company is headquartered outside of Chicago, Illinois.

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