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Gallery on Fulton


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Thought it was interesting that CWD sold this property to a Chicago company. Wonder if they’ll put some money into reconfiguring the old UICA space. It was an odd space, very specific to UICA. Would love to see them get this space active again (and it was never fully active even when UICA had the whole space. I remember during art prize seeing a lot of interesting but unionists spaces on the 3rd or 4th floor).
 

https://mibiz.com/sections/real-estate-development/after-recent-acquisitions-chicago-property-management-firm-sees-lot-of-opportunities-in-grand-rapids 

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On 12/17/2020 at 10:54 PM, egrguy said:

 

25 minutes ago, joeDowntown said:

Thought it was interesting that CWD sold this property to a Chicago company. Wonder if they’ll put some money into reconfiguring the old UICA space. It was an odd space, very specific to UICA. Would love to see them get this space active again (and it was never fully active even when UICA had the whole space. I remember during art prize seeing a lot of interesting but unionists spaces on the 3rd or 4th floor).
 

https://mibiz.com/sections/real-estate-development/after-recent-acquisitions-chicago-property-management-firm-sees-lot-of-opportunities-in-grand-rapids 

FROM Joe's link: "CIG also purchased the Gallery Apartments in downtown Grand Rapids at 10 Commerce Ave. SW for $12.6 million on Dec. 31, 2021 from CWD Real Estate Investment, doing business as Two West Fulton II LLC, according to property records."

I wonder if the UICA gallery is considered a separate piece of property from the Gallery Apartments  since the listed price back in 2020 for the gallery is so much lower than what CIG just paid for the apartments.  I know real estate prices have jumped in the last two years but considering what a white elephant the gallery itself is, I wouldn't think its price has increased much if at all.   

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4 hours ago, walker said:

 

FROM Joe's link: "CIG also purchased the Gallery Apartments in downtown Grand Rapids at 10 Commerce Ave. SW for $12.6 million on Dec. 31, 2021 from CWD Real Estate Investment, doing business as Two West Fulton II LLC, according to property records."

I wonder if the UICA gallery is considered a separate piece of property from the Gallery Apartments  since the listed price back in 2020 for the gallery is so much lower than what CIG just paid for the apartments.  I know real estate prices have jumped in the last two years but considering what a white elephant the gallery itself is, I wouldn't think its price has increased much if at all.   

I think the apartment tower and the gallery itself were "condo'd" apart from each other, if that's the right terminology. With some shared spaces and responsibilities. I think even the ramp is owned by the city or Ellis and they lease the spaces. 

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