Dwight Brothers, Nationwide Papers (1970), Dwight Lofts
Life Span: 1911-Present
Location: 366 to 376 South Clark street (Old), 626 South Clark
Architect: Richard E. Schmidt and Garden & Martin
Chicago Tribune, July 27, 1910
Big Building for Clark Street.
Another big building will be erected in South Clark street, the whole project involving $500,000, the transaction having been brought to a close yesterday by Farnham, Willoughby & Co., Clifton R. Bechtel being in immediate charge of the negotiations. Dwight Bros. Paper company have entered into a contract with A. J. Franks, who owns the property at 366 to 376 South Clark street, by which he will build for their occupancy a ten story fireproof building to cost upwards of $250,000. The land which is east front, 150 feet south of Harrison street, has a frontage of 125.75 feet and a depth of 103 feet to an alley. The land was acquired on a lease for a term of twenty-five years at an annual rental of $10.000, or 4 per cent on $250,000, being at the rate of a little less than $2,000 a front foot and about $20 a square foot. The rental of the building will be 8 per cent on the cost of construction. The board of review valued the property at $147,275, of which $2,400 is in the buildings-which are really of little value, being two story frame structures erected many years ago. Construction on the new building will be commenced within sixty days, plans for the structure now being prepared by Architects Richard E. Schmidt and Garden & Martin. It will be of reinforced concrete construction and will be heavy and substantial, as a considerable part of it will be used for the storage and handling of paper.
- Dwight Bros. Paper Co. Building
Under Construction
May 26, 1911
Chicago Tribune, April 25, 1997
PAIR OF OLD GRAPHIC HOUSES MERGE FOR CLEARER PICTURE.
By George Lazarus.
Rider Dickerson Inc. and Lake Shore Imaging, two of Chicago’s oldest graphic arts houses, are going under one roof.
Rider Dickerson, largely a commercial printer, revealed this week its acquisition of Lake Shore for an undisclosed sum. Lake Shore keeps its name as a division of its new parent, which projects 1997 combined revenues approaching $18 million.
Lake Shore, a 65-year-old electronic prepress facility, is prominent in digital film technology, which will complement Rider Dickerson’s work.
James E. Madden, president-chief executive officer of family. held Rider Dickerson, keeps that post in the combined operation.
Reporting to him is Gentre Vartan, president of Lake Shore. It was Gentre’s father, Wally, who founded the predecessor company, Lake Shore Photoengraving.
Rider Dickerson’s 80-person staff operates out of a 125,000 square foot plant at 626 S. Clark St. (Clark and Harrison) in Printer’s Row, which will absorb 30 employees from Lake Shore’s current 9,000 square feet of space at 2101 W. Rice St.
Those staffers are expected to move to the Clark-Harrison location in mid-June. Rider Dickerson, which dates back to 1903, expects to sublease Lake Shore’s old space.
The graphic arts business has undergone a good deal of consolidation in recent years because of technological developments. Some firms have gone belly up.
The Rider-Dickerson-Lake Shore deal was put together by a merger-and-acquisition consultant, reports Madden, who says the transaction involves upfront cash plus an earnout over time.
Chicago Tribune, March 13, 2008
$75 million deal for South Loop dorm
Student-housing operator Scion Group LLC of Chicago said Thursday that it will pay $75 million for a 694-bed dormitory under construction in the South Loop.
Scion and ASB Capital Management LLC of Be-thesda, Md., are buying the Dwight Lofts, a 16-story building at 626 S. Clark St. The building is expected to open in time for the fall semester.
Scion said it is bringing in a new investor to buy out its partner, Chicago-based de veloper Smithfield Properties LLC.
Popular investment: In recent years, student dormitory housing independent of colleges has become an increasingly popular investment. Scion said it expects to charge rents of about $1,050 a bed per month.
Last fall, Scion and ASB paid $53 million for the Automatic Lofts, a 485-bed dorm at 410 S. Morgan St. in Chicago that Smithfield and Scion developed.
- Dwight Building
Ross & Browne Real Estate Map
1928
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