The developer of a Lincoln Park apartment building built in 2009 listed the property for $8.45 million. Listing agent Matt Jones of Kiser Group said the five-floor, 16-unit building at 2666 N. Halsted St. is fully leased and would carry a capitalization rate, or first-year yield, of 5.55 percent at the current asking price. A bar occupying the property's first-floor retail space has closed, but an undisclosed new tenant is signing a lease for the space soon, Mr. Jones said. The building's developer, Lake Forest-based Solstice Development Group LLC, paid $3.15 million in 2006 for the property, according to Cook County property records. Construction costs are unknown. Solstice Manager Glen Pennington declined to comment.
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