“It's an atypical ownership structure, but one that we believe aligns all parties with the hospital's objectives and the healthcare needs of the community,” says Seavest's John Winer.

The average US multifamily rent increased by $12 to $1,465 in June, according toYardi-Matrix.

Chicago Mayor Lori E. Lightfoot announced on Wednesday that the city has submitted five sites to be tested: Harborside (111th and the Bishop Ford Freeway); the former Michael Reese hospital (31st and Cottage Grove); Pershing & State; Roosevelt & Kostner; and the former U.S. Steel parcel (80th and Lake Shore Dr.).