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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 ( or email at

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.


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