North Water Apartments in Chicago, Illinois

Crescent Heights Buys North Water Apartments in Downtown Chicago for $173 Million

by Channing Hamilton

CHICAGO — Crescent Heights has acquired North Water Apartments, a 398-unit property in downtown Chicago’s Streeterville neighborhood. Invesco Real Estate sold the asset for $173 million, according to real estate data firm CoStar Group. North Water Apartments is the multifamily portion of a 50-story building located at 340 E. North Water St. Built in 2015, the community is situated above the Loews Chicago Hotel, which was not included in the sale, and offers studio, one-, two- and three-bedroom floor plans. John Jaeger and Justin Puppi of CBRE represented the seller. CBRE’s debt and structured finance team, including Pete Marino and Elizabeth Arnold, represented the buyer in procuring financing.

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