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AmTrust Acquires Luxury Apartment Building in Chicago’s East Loop
AmTrust RE completed the acquisition of Parkline Chicago, a 26-story, 213-unit residential high-rise building located at 60 E. Randolph Street in Chicago’s East Loop neighborhood.
The transaction was arranged by the CBRE team of John Jaeger, Justin Puppi, and Jason Zyck. Spanning a total of 210,000 square feet, the building features 189 standard rental units and 24 condo-quality penthouses. Commercial tenants in the building’s 6,200 square feet of retail space include Smoothie King and Starbucks.
“AmTrust has had a significant office footprint in the Chicago Loop for years, and as it continues its resurgence, we’re eager to continue investing in the city,” said Jonathan Bennett, AmTrust’s President. “With the revitalization efforts across the downtown area and major tech giants like Google establishing headquarters just blocks away, there are incredible demand drivers for residential space, and we’re anticipating an influx of tech professionals to the East Loop over the next few years.”
