When we say sweet, we really mean sweeeeeeeeeeeeeeet. Jerry Goldner is and should be so proud of this deal. Not only is it the largest deal he has completed, but it is the largest single deal in the history of his firm, which is Irvine, California based Sperry Van Ness and to top it off he was the sole broker! No, this is not a belated April Fools. This is a real deal and Jerry made it happen. To make this even more amazing was this deal was done based on an unsolicited offer. Moral of the story: The harder you work, the luckier you get! Do not give up.
This transaction started over 4 years ago when I represented the previous owners. It has been the most challenging and rewarding experience of my 34 years as an investment advisor. ~Jerry Goldner
The property is located in the Gold Coast of Chicago. An elite area adjacent to Lake Michigan and backed by the Magnificent Mile. The deal included 160 unit rental condominiums at Walton on the Park South Tower and a development site adjacent to the property. The seller, the Dart Family of Michigan had purchased the property in March of 2011, for $83 million and now with this sale, doubled their money selling the property for $160 million to Crescent Heights, Inc.
The purchase of Walton on the Park, 2 West Delaware Street, is comprised of condos, commercial space and parking as well as a 17,180-square-foot parcel to the north of the building.
Sperry Van Ness Vice President Jerry Goldner was the sole broker in this transaction.