CHICAGO-Residents have begun moving into the new $82-millionParc Huron apartment tower here. Locally-based RMK Management isleasing units in the 21-story building, which started out as acondo project.
M&R Development, a sister company to RMK, bought the projectfor $8.3 million in 2008 from Miami-based Lennar Corp. when it wasa planned condo building. However, with the market shift, RMKofficials said the River North tower made more sense as anapartment building.
The building, with 221 units, is 30% leased, says RMK. Theproperty has one-bedroom, two-bedroom and three-bedroom units,which range up to 1,443 square feet. Rents at the building rangefrom $1,692 to $4,257.
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