Source: Berkshire Group / #Apartments #Multifamily
CHICAGO, IL - Berkshire Group announced the purchase of Eight O Five N. LaSalle in Chicago, Illinois, from Smithfield Properties. The 32-story, 292-unit River North high-rise was designed by Berkelhamer Architects and completed in 2015.
Anchored by the Merchandise Mart and home to iconic architecture including Marina City and 330 N. Wabash designed by Mies van der Rohe, River North features high-end dining and retail as well as a vibrant night life scene. The neighborhood is within walking distance of the Loop and the financial district as well as Oak Street and Magnificent Mile shopping.
“It is not always easy to find a property with the quality and amenities of Eight O Five in such a desirable location,” noted Jack Dent, Managing Director, Portfolio Manager, Berkshire Group. “Demand in the River North area and the superior appointments of the property are ultimately why Eight O Five fits so well into our core investment strategy.”
Eight O Five is located near train and bus lines and features a rooftop outdoor pool and sundeck, parking and bicycle storage, and an outdoor dog run. Apartments feature floor-to-ceiling windows, spacious balconies and terraces, and high capacity internet connections.
Berkshire Group is a real estate investment management company primarily known for its multifamily investment and operational experience. In addition to deploying capital through equity, debt and development in the multifamily arena, Berkshire invests in opportunistic ventures in other real estate sectors through its Venture Investments group.