Real estate news & trends
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Crescent Heights
If you’ve been closely following our weekly report on what’s actually available for rent in the South Loop you’ll notice some significant changes this week. Two buildings are offering 1-bedroom units at more than $200 below the previous week’s lowest rents, and two other buildings have 2-bedrooms at more than $600 below last week’s highest ...
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Posted by Joe Zekas on December 20, 2012
S Loop Chicago Development, LLC, a single-purpose entity which is part of a group of companies affiliated with Crescent Heights, has purchased approximately 3 acres of land in the South Loop, it was announced today by Jason Buchberg, Vice President of the company. The purchase consists of two sites in the highly-trafficked Michigan / Roosevelt ...
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Posted by Joe Zekas on December 18, 2012
The news release just came across our virtual desk: CHICAGO – (February 2, 2012) Chicago-based Fifield Companies and its joint-venture partner, Pacific Life Insurance Co. of Newport Beach, Calif., have announced the sale of Echelon at K Station, a Class A luxury apartment building in Chicago’s West Loop. Miami-based developer Crescent Heights purchased the 350-unit ...
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Posted by Joe Zekas on February 2, 2012
Crain’s Chicago Business is reporting (subscription required) that Miami-based Crescent Heights has agreed to sell the 39-story, 480-unit Cityfront Place for “about $106 million, just 17 months after buying the riverside high-rise for $82 million.” The sale reflects the rapid turnaround and increased rents in the downtown Chicago rental market during the past several years.
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Posted by Joe Zekas on April 24, 2011
“It’s almost like we went from a condo-flipper market to an apartment-flipper market.” – Ron DeVries, vice-president at Appraisal Research Counselors, on Crescent Heights‘ attempt to sell the 39-story, 480-unit CityFront Place apartment high-rise in Streeterville for $100 million or more, just a year after it bought the building for $82 million. Such a deal ...
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Posted by Joseph Askins on January 20, 2011
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