MetLife to Spend Nearly $120M on Loop Apartment Tower
Registration is open for RealShare National Investment and Finance on June 24-25. Find out what's new in the capital stack, get the latest strategies in investing and the latest market intelligence.
CHICAGO-New York-based MetLife Inc., a New York-based insurance company, is in the process of buying a 50-story residential building in the Loop for roughly $120 million. The company has reached a contract with a joint venture headed by Chicago-based Jupiter Realty Co. to purchase 215 West, a 389-unit apartment tower at 215 W. Washington St.
The insurer is paying roughly $305,000 per unit, or nearly $119 million, for the apartment complex. Jupiter and Cornerstone Real Estate Advisors LLC developed the tower in 2010. For the full story, go to Crain's Chicago Business .
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
Save the date October 21-22 for RealShare APARTMENTS in Los Angeles. Book your flights and register today.
You can now be notified via email if this story is updated by clicking on the "Follow this Story" link. You must be a registered member to take advantage of this "members only" benefit.