X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
chi-Lex (3) FPA Multifamily, LLC bought the property at 2138 S. Indiana Ave. for an undisclosed amount but it was free and clear of existing financing.

CHICAGO—Some investors have expressed concern about the thousands of new units coming online in the city’s downtown, but overall, the general feeling is that the sector remains solid. And buyers seem ready to place big bets. Crescent Heights just sold The Lex, a 332-unit, high-rise apartment property in Chicago’s South Loop, a neighborhood with one of the city’s most active development pipelines.

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.

More from this author

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2018 ALM Media Properties, LLC. All Rights Reserved.