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Article: Health-Care Group to Sell Chicago Hospital to Real Estate Firm.

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Knight Ridder/Tribune Business News
Article date:
May 17, 2002
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By Thomas A. Corfman, Chicago Tribune Knight Ridder/Tribune Business News

May 17--Advocate Health Care has reached an agreement to sell its money-losing Ravenswood Medical Center to a little-known but long-established local real estate firm, which plans a mixed-use redevelopment that will include new homes and medical facilities.

An investment group led by Seay & Thomas Inc. has agreed to purchase the nearly 7-acre North Side complex for $15 million, sources said. Thomas V. King, who once oversaw the Merchandise Mart and other real estate holdings of the Kennedy family, is chairman of the 67-year-old firm.

Advocate said last month that it ...

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