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Crescent Heights Ready to Move Forward with North Harbor Plan

CHICAGO—The Miami-based developer has completed its acquisition of the 1980’s era tower in Lakeshore East.

chi-Crescent_Heights_NHT_indoorpool (2) North Harbor Tower was completed in 1988, and new owner Crescent Heights says its time for renovations.

CHICAGO—Crescent Heights says it is ready to begin a multimillion-dollar renovation of North Harbor Tower, its newest acquisition in Chicago. The Miami-based developer is already one of the biggest owners of high-rise residential properties in Chicago, and has completed its purchase of the 600-unit apartment tower located at 175 N. Harbor Dr. in the Lakeshore East neighborhood. Terms of the acquisition were not disclosed, but Crain’s has reported a price of about $200 million.

“North Harbor Tower boasts one of the most advantageous lakefront locations in downtown Chicago,” says Tomer Bitton, principal at Crescent Heights. “Our goal is to realize the full potential of this underutilized asset through a multimillion-dollar investment to reflect the Crescent Heights Inspired Living brand.”

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Brian J. Rogal

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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