CHICAGO-New York-based MetLife Inc., a New York-based insurancecompany, is in the process of buying a 50-story residentialbuilding in the Loop for roughly $120 million. The company hasreached a contract with a joint venture headed by Chicago-basedJupiter Realty Co. to purchase 215 West, a 389-unit apartment towerat 215 W. Washington St.
The insurer is paying roughly $305,000 per unit, or nearly $119million, for the apartment complex. Jupiter and Cornerstone RealEstate Advisors LLC developed the tower in 2010. For thefull story, go to Crain's Chicago Business.
GlobeSt.com News Hub is your link torelevant real estate and business stories from other local,regional and national publications.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
