Chicago

“New ownership has the opportunity to renovate and reposition the property in the near term for additional value creation," says Marcus & Millichap's Stephen Lieberman. "Considering the current and future outlook for office space demand in downtown Evanston, ownership should prove to be successful.”

“Chris understands the many nuances of the Chicago retail market and is the right person—with the charisma, skill and network—to help us successfully launch this platform here in the region," says Jim Carris, Colliers' Chicago market leader.

“Arbor was able to step in mid process, due to an outside lender retrade, and close quickly with no lockout on the prepayment,” Arbor's Ryan Duff says.

The portfolio includes four buildings in Chicago, two buildings in Cincinnati, 12 buildings in Columbus, two buildings in Indianapolis, and one building in Louisville.

The property is a 70-story residential tower in Chicago's Streeterville neighborhood—and the city's first high-rise designed by Robert A.M. Stern Architects.

“Tenants with dual locations in the suburbs and downtown has been a major trend,” says Savills' Robert Sevim.