MetLife to Spend Nearly $120M on Loop Apartment Tower
Get the Windy City's commercial news in your email with GlobeSt.com's Chicago AM Alert. Keep up with industry news, activities and profiles. Sign Up Today!
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.
Multifamily is booming. Find out what's on the horizon for owners, developers, investors and managers on February 24-25 at RealShare APARTMENTS EAST. Network with your peers from across the country.
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.