Conlon Buys River North Building

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Conlon Buys River North Building

Conlon & Co acquires River North building—former home of trendy eatery SushiSamba Rio.
Press Release

504 Wells Sushisamba

 

A venture led by well-known real estate investor Sean Conlon has acquired a River North building best known as the former home of trendy eatery SushiSamba Rio.

Conlon & Co. acquired the two-story commercial property at 504-512 N. Wells St., between Grand Avenue and Illinois Street, on Monday, Dec. 29. The price was about $6 million.

 Steve Horvath and David Goldberg of Conlon & Co. affiliate Conlon Commercial represented the buyer and seller in the transaction.

 News of the deal was recently featured in Crain's Chicago Business.

“There has been a ton of interest, even before I closed on the property,” Mr. Conlon told Crain’s. “It's a world-class location and space in River North, but there was a lot of hair on the deal, and that scared a lot of (potential buyers) off. It was like trying to cuddle a porcupine.”

The more than 14,000-square-foot building had been the Chicago location of SushiSamba Rio, a Japanese/Brazillian/Peruvian restaurant chain that shuttered about four months ago. The space is now empty.

Over the years the building’s tenants have included a painter, an auto supplier and a towing company. The Hudson Club restaurant preceded SushiSamba.

It is the second restaurant/tavern property that Mr. Conlon has recently acquired. Last April he bought a two-story building at 15 W. Division St. in the Gold Coast that had been home to Snuggery Sports Pub & Eatery.