Skip to content
October 19, 2011 / mpauli

River North apartment high-rise sells for over $90 million

Another high-rise apartment building is selling in Chicago. This time, River North’s 25 story 77 W Huron Street property. Selling at over $90 million or about $296,000 per unit this is not the most expensive building to sell in Chicago recently, but does continue the hot trend in apartments.

The Chicago real estate market is seeing a slow (as most of the US) in housing sales, however unlike most of the country, there is still a need for housing in the 3rd largest city in the United States. Apartments throughout Chicago (from the South Loop, River North, Streeterville, Gold Coast, Old Town, Lincoln Park, Lakeview and Wrigleyville) are climbing in rents and are often seeing “bidding wars” for tenants as they fill very quickly once on the market.

I recently had a client looking for an investment property, one that would out gain the stock market and crush their savings account. We found a gem in Chicago’s Lakeview neighborhood. This three-flat property will give my client upwards of an 8% cash on cash return!

There are plenty more out there for you as well. I can help find you a great investment property in Chicago. View properties from my website (http://MattPauli.com) or email at mattpauli@atproperties.com.

Here is Crain’s article on the most recent apartment building sale: River North apartment high-rise sells for over $90 million | News | Crain’s Chicago Business.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: