Quote:
"Historically, rents in the building average $650,000 a month, according to court records.
In May 2009, the building only brought in $99,000, according to an income and expense statement cited by Capmark. "
That's HUGE. That means they've lost almost all their revenue, if true, if that's all they're getting, that place is shutting down soon. It's expensive to keep that beautiful girl open.
Quote:
"As of about four months ago, the building, at 645 Griswold, was 63.1 percent leased, according to CoStar Group Inc., a commercial real estate research and information service."
Running a building at 37% or so vacancy is really tough.