The broker that put the more-than-century-old Lowry Apartments on the market this week said Thursday that two other Madison Equities properties — the Degree of Honor Building on Cedar Street and Seventh Place Apartments — will not be listed for sale, at least not in the immediate future.

All three buildings are largely residential, multi-family apartment structures.

“Right now the decision is not to market those,” said Abe Roberts, a senior vice president with Marcus and Millichap, the Minneapolis firm acting as the broker for the former Lowry hotel at Fourth and Wabasha.

Madison Equities, believed to be the largest property owner in downtown St. Paul, has advertised the majority of its downtown holdings following the death in January of longtime company principal Jim Crockarell. His widow, Rosemary Kortgard, has declined public comment on the decision.

Constructed in 1905, the 11-story Lowry Apartments was listed for sale separately this week from 10 Madison Equities commercial properties that went on the market a week ago.

Those commercial properties, which include six downtown office buildings, two parking ramps, the Handsome Hog restaurant on Selby Avenue and the vacant lot next to it, have been bundled together for sale to a single buyer, if one comes forward. CBRE is representing Madison Equities’ commercial portfolio.

“This is a separate offering,” Roberts said of the Lowry sale. “Most likely, there will be a different buyer for the multifamily properties than the office portfolio, hence why they are listed separately. I would expect a similar sales timeline for the office as the multifamily.”

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