Belden Stratford

The Belden Stratford, builth in1923, is a 16 story building that is on the National Register of Historical places, that was sold this weekend for $60 million.  The building was a residential hotel built in Chicago before the Depression.  The building today is mostly use as a hotel and apartment.  The building had rough 297 units and was located on 2300 Lincoln Park West.  Based on the purchase price, the building was sold at about $202,000.00 per unit.  Its the goal of the new owners to rent out the units.  Its expected that rental value will increase as less and less people can afford to buy homes.