The new equity REIT has the potential to reach more than $175 million in gross asset value.

Buyer Ivy Realty plans upgrades, full rebranding for the Roosevelt Boulevard campus.

The East Park SRO renovations were funded through a mix of equity from federal low-income housing tax credits, a grant from the Federal Home Loan Bank of Chicago and debt financing from the Illinois Housing Development Authority.

In an example of office-occupying activity, a long-term lease was recently inked by Waste Management Inc., which is to occupy nine floors at Capitol Tower consisting of approximately 284,000 square feet.