Chicago-based Dynaprop Development Corp. purchased a 35,328-square-foot building in Valparaiso.

Latitude Commercial will manage and lease the units at the property, which has two tenants and two vacant stores. Chris Marshall, who joined Latitude Commercial in 2023, will manage the property.

“We are excited to work with our new client and the property’s current tenants,” Marshall said in a press release. “This is an iconic Valparaiso property owned by a group with a strong vision. We see the property as having a lot of potential and are excited to see it come to life.”

The vacant units are 5,470 square feet and 1,034 square feet.

Dynaprop Development Corp. was founded in 1987 by President Rick Turner in 1987.

Latitude Commercial is a commercial real estate brokerage and property management firm based in Crown Point.