Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Trio of Luxury Rental Properties Hits the Market in Chicago
As Chicago’s apartment market stages a dramatic recovery, a trio of luxury rental properties has hit the market, Crain’s Chicago Business reported. How well they fare on the sales market could provide an indicator of how favorably investors regard the city at present.
In the South Loop, The Paragon at 1326 S. Michigan Ave. went up for sale earlier this month. The 47-story tower developed by Murphy Development and CIM Group has 500 units, and it’s estimated that it will be priced at about $200 million.
Elevate Lincoln Park, a 191-unit building at 930 W. Altgeld St., is estimated to be priced at about $135 million. It was built in 2018 by Baker Development.
A third, 261-unit building completed just last year at 633 W. North Ave. was listed this month. Its price is estimated at $160 million. JLL’s Mark Stern and Kevin Girard are marketing all three properties.
Pictured: The Paragon.
- ◦Sale/Acquisition

