February 3, 2016 Comments Off on 50-Story Chicago Residential High-Rise Sells for $240M Views: 322 California News, Illinois, Midwest, National News

50-Story Chicago Residential High-Rise Sells for $240M

Convexity Properties of Chicago, owned by developer Don Wilson, has reportedly sold the 398-unit, 50-story North Water Apartments to Atlanta, GA-based Invesco for $240.3 million. The price amounts to $640,000 per unit, the third-highest per-unit price ever paid for an apartment building in Chicago.

The high-rise, located at 340 E. North Water St. in Chicago’s Streeterville neighborhood, was reportedly 62% leased as of 2Q15. The development also includes a 400-room hotel, which Convexity sold to Loews Hotel & Resorts in February of last year.

Read More at Crain’s Chicago Business

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