CHICAGO-A joint venture of Marquette Cos. of Naperville, IL and AEW Capital Management L.P. of Boston is reportedly selling the Trio apartment tower to Abacus Capital Group LLC of New York City.
The sale price on the 22-story former condominium property in the West Loop is approximately $40 million, according to Crain's Chicago Business.
Marquette and AEW took over the failed 100-unit condo tower and 21 units in an adjoining building in 2010 from the property's developer, Robert Mosky. The venture subsequently sold some of the 21 condos and rented out the tower building. The apartments are currently 91% occupied, according to Chicago-based Appraisal Research Counselors.
HFF Inc. was hired by the Marquette-AEW ownership as the broker for the sale of the property. See story in Crain's Chicago Business.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
