June 24, 2020
Crescent Heights and the Matthew Pritzker Company finalized the sale of 640 W. Washington Blvd. in downtown Chicago’s West Loop. Miami-based Crescent Heights, which has developed two apartment high-rises in the South Loop, purchased the 35,677-square-foot surface lot at 640 W. Washington for $20.1 million.
Tom Svoboda, a senior associate at CBRE who specializes in urban development sites, represented Crescent Heights in the purchase. No other brokers were involved in the transaction.
“This is a great deal for everyone involved and is especially exciting for Chicago, as it is a clear vote of confidence in the city and its future,” said VP Jordan Dubnow with the Matthew Pritzker Company. “We were thrilled to work with Crescent Heights and CBRE on this transaction and are especially pleased that after striking a deal in September 2019, all parties remained dedicated to seeing it through to full fruition.”
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