The historic Pythian Building on Loyola Avenue is back on the market after an effort to sell the property to an affordable housing developer in Atlanta fell through.
It was the second unsuccessful attempt in two years to sell the property, which opened in 2018 after an extensive $46 million renovation.
Local surgeon and real estate investor Dr. Erik George, whose ERG Enterprises owns the 116-year-old Pythian, hasn’t set an asking price for the building, which includes a former food hall on the ground floor, a second-floor event venue, 69 market-rate and affordable apartments and office space.
But ERG Chief Financial Officer Ryan Cabos said that after the recent deals didn’t come together, it was time to get more aggressive about finding a buyer. Fewer than 60% of the building’s resident