chi-1333southWabash (2)

CHICAGO—Chicago-based The Habitat Companycontinues to deepen its involvement in the city's burgeoning luxuryhousing market. The multifamily property developer and manager,which is also expanding its national profile, recently entered intoa joint venture with Newport Beach, CA-based Pacific Lifeand Township Capital in the acquisition of1333 S.Wabash, a 305-unit class A rental tower in Chicago'sbustling South Loop neighborhood. The venture paid $125.1 million,according to Cook County property records.

Habitat now handles leasing and property management for the28-story tower, and says tenants have already leased 75% of theunits. The building has only been open for a little more than oneyear, so a relatively quick lease-up seems likely. Designed byChicago-based Brininstool + Lynch, it offers a mixof one-, two- and three-bedroom units, including nine duplexpenthouses.

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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