CHICAGO-A fund operated by Chicago-based Waterton Associates LLC has acquired Seneca, an apartment hotel consisting of 264 units at 200 E. Chestnut St. in Streeterville, for $35.6 million. Chicago-based Irmco Properties & Management Corp. was the seller of the property.
The sales price breaks down to approximately $135,000 per unit. Wells Fargo Bank provided a $29.5-million loan for the acquisition. Holliday Fenoglio Fowler LP's Chicago office marketed the property on behalf of Irmco. For the full story, go to Crain's Chicago Business .
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