Steel Plant Site at Hennepin Sells Again

The old LTV steel mill, most recently purchased by IPS Steel in 2014, has a new owner.

Hennepin Industrial Development, LLC, incorporated on Dec. 7, 2016, purchased the property for $5 million on March 2, according to transfer documents obtained by the NewsTribune.

Hennepin Industrial Development LLC lists 4117 N. Lowell Ave, Chicago, as its main address.

Other documents obtained show IPS Steel continuing to hold the mortgage to the property, with IPS Steel acting as the lending agent and Hennepin Industrial Development LLC as the borrower. 

John R. Joyce, a partner at Chicago real estate development firm Roetzel and Andress, was listed in the mortgage documentation and was unavailable by phone for comment at press time.

Source: News Tribune