600-Unit North Harbor Tower Under Contract to Miami Buyer

Crescent Heights of Miami, FL, an active buyer of multifamily properties in Chicago, has reportedly entered into an agreement to acquire North Harbor Tower from the Florida State Board of Administration, which is being represented by HFF.

Though a specific price hasn’t been announced, sources believe the 95% occupied, 600-unit property located at 175 N. Harbor Dr. could sell for more than $200 million.

If the North Harbor Tower transaction goes through, Crescent Heights would own more than 2,200 units in and near downtown Chicago.