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Cresset Completes First Multifamily Acquisition

The Chicago firm wants to bring private investment opportunities in the multifamily market to its wealth management clients.

chi-wells place 3 (3) Wells Place, an 84-unit development at 837-839 S. Wells St. in Chicago’s South Loop.

CHICAGO—Cresset Partners, the private investment affiliate of Cresset Wealth Advisors, recently acquired Wells Place, an 84-unit rental property in the heart of Chicago’s South Loop, located at 837 and 839 S. Wells St. This was the firm’s first real estate acquisition and the start of its plan to bring private investment opportunities in the multifamily market to its wealth management clients.

A host of luxury rental properties have sprouted up all around the city’s CBD, and institutional investors looking for stable cash flow have eagerly snapped up the giant residential towers. Cresset wants to get its investors a piece of this lucrative market, but on a smaller scale. And Wells Place provided the perfect opportunity.

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Brian J. Rogal

Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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