Vernco 95, LLC with George Vernet as its manager, purchased the partially completed mixed-use condominium project featuring retail/commercial space, artist studios and residential condominiums back in January of 2011.
The property includes units 100, 200, 300 and 400 of 95 Rantoul St. They completely renovated the commercial space, a residential condo and created new artist studios for 37 artists. They created an artist community in downtown by adding a gallery for the artists to display their artwork to the community.
The development also included restructuring the condo association and working with existing owners to make the entire building a success. Construction included modifying the elevator, sprinklers, fire alarm, repointing brick, new awnings, etc.
Vernco 95, LLC sold all 4 commercial condominiums to Hilary Realty Trust with Ted Richard serving as its trustee.
The sale price was $1.344 million.