The eight-story Helmut Jahn designed office building at 1007 Church St. in Evanston has new owners.
Chicago Real Estate Daily reports that Philadelphia-based Lubert-Adler Partners L.P. and Southfield, Michigan-based Farbman Group acquired the eight-story building at 1007 Church St. in a judicial sale this week.
They had gained operating control of the property in February by buying its defaulted $20.5 million mortgage for $9.6 million.
The new owners, who also own several office towers in downtown Chicago, say they plan to renovate the lobby of the Church Street Office Center and make other improvements.
Although the building is now only 52 percent leased, the new owners say that with Evanston's train lines it's convenient both for workers who live in the Chicago and executives living further north on the North Shore.
However one growing startup recently announced plans to leave the building for new offices in Chicago. In addition, the Evanston Community Foundation recently moved from 1007 Church to the Rotary International Building a few blocks away.