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Chicago & Midwest  + Downtown  + Apartments  | 

Crescent Heights Seals the Deal on West Loop Parcel

Crescent Heights and the Matthew Pritzker Company finalized the sale of 640 W. Washington Blvd. in downtown Chicago’s West Loop. Miami-based Crescent Heights, which has developed two apartment high-rises in the South Loop, purchased the 35,677-square-foot surface lot at 640 W. Washington for $20.1 million.

Tom Svoboda, a senior associate at CBRE who specializes in urban development sites, represented Crescent Heights in the purchase. No other brokers were involved in the transaction.

“This is a great deal for everyone involved and is especially exciting for Chicago, as it is a clear vote of confidence in the city and its future,” said VP Jordan Dubnow with the Matthew Pritzker Company. “We were thrilled to work with Crescent Heights and CBRE on this transaction and are especially pleased that after striking a deal in September 2019, all parties remained dedicated to seeing it through to full fruition.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Sale/Acquisition
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