Michigan Ave Auction

The Loukas family that owns the Cubby Bear bar near Wrigley Field plans to auction off 326 N. Michigan Ave on March 25. The property has been owned by the family for over 25 years and has no debt. The building is comprised of three levels with over 22,500 sq ft and was completed in 1910. Seller financing is available which should prove attractive for those looking to expand their portfolio of holdings but unable to obtain traditional financing due to the negative lending environment and the downturn in the commercial real estate market.