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Chicago Commercial Real Estate

Sean Conlon Buys Rainforest Cafe Building for $14M

Rainforest Cafe has a new landlord. A venture led by Sean Conlon paid $13.7M for the 22k SF restaurant at 605 N Clark St in River North. Developers like River North because it's rich with low-rise buildings and parking lots that can be redeveloped for higher density. Conlon recognizes the redevelopment potential but currently likes what he and partner Joe Scoby sees in the building, according to Crain's. Rainforest Cafe holds a five-year lease on the building with an option to renew for another five  years. Another restaurant popular with tourists, Ed Debevic's, is leaving River North. The site will become a 251-unit apartment tower. [Crain's]

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