CHICAGO, IL - The Chicago office of Crescent Heights announced 175 Harbor Drive, LLC has acquired North Harbor Tower, a 600-unit apartment tower located at 175 N. Harbor Drive in Chicago. North Harbor Tower is located within a 28-acre, award-winning master-planned community in the Lakeshore East neighborhood. Terms of the acquisition were not disclosed.
“North Harbor Tower boasts one of the most advantageous lakefront locations in downtown Chicago,” said 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.”
Just west of Lake Shore Drive and south of the Chicago River, North Harbor Tower provides sweeping views of Lake Michigan and the Chicago skyline. The pet-friendly building is located within Lakeshore East, which includes the Village Market center and a six-acre park featuring hundreds of trees, plants and flowers, as well as ornamental and water gardens, a children’s play park, and a dog park. It is a short walk from several popular attractions, including Maggie Daley Park, Millennium Park, Navy Pier, the Art Institute of Chicago, and the shops along the Magnificent Mile. Current amenities at North Harbor Tower include an outdoor sundeck, indoor pool, 24-hour fitness facility, fitness studio with complementary classes, and party room. A multimillion-dollar renovation of the property is scheduled to begin later this year.
The 55-story building, which currently offers a mix of studio, convertible, one-, two-, and three-bedroom units, features unique floor plan arrangements with airy bay windows. “North Harbor Tower’s floor plans provide some of the largest apartments available in the City,” said Bitton. “It’s ideal for a variety of renters, from young families who wish to be within walking distance to some of the best family entertainment in the city, to empty-nesters who want the vibrancy of downtown living without having to dramatically downsize on living space, to young professionals seeking a premier address on the lakefront.”
Crescent Heights has had an established presence in Chicago for the past 15 years, and is one of the largest residential brands in the City. Notable Crescent Heights-branded properties include: Burnham Pointe; Park Michigan; Astoria Tower; Echelon at K Station; and, The LEX.
Bitton added, “We’re proud to deliver Crescent Heights Inspired Living throughout downtown Chicago, and North Harbor Tower will complement our existing urban portfolio.”