Ceres Acquisitions Grabs 435 N LaSalle in Chicago’s River North
- Mar 20, 2015
Ceres Acquisitions, a subsidiary of Michael Palumbo-led MJP Capital recently acquired 435 N. LaSalle in Chicago’s River North neighborhood. The company paid $8.175 million for the building, which comprises almost 50,000 square feet of office space at the corner of LaSalle and Hubbard.
MJP Capital, a private Midwest holding company focusing on real estate and technology, partnered with Chicago-based Elmdale Partners in the transaction.
“River North is one of the hottest office markets in the country right now, and we feel this property offers exceptional value,” said Michael Palumbo, president and chairman of MJP Capital. “We are excited to partner with Elmdale Partners to acquire this property and look forward to future investment opportunities.”
MJP Capital is comprised of two main ventures, namely Ceres Acquisitions and CeresTech. Michael Palumbo is a well-known Chicago trader, entrepreneur and investor; he is also the founder and controlling partner of Third Millennium Trading, LLC.
According to a news release, Ceres plans to invest additional capital into the renovation of the four-story building’s interior, including the lobby and elevators.
Image courtesy of Loopnet.com
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