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| 77 West Huron St., Chicago |
CHICAGO, IL – HFF announced today that it has arranged $47
million in financing for 77 West Huron, a 304-unit, 25-story luxury
multi-housing tower with ground-floor retail space in Chicago’s vibrant River
North neighborhood.
Working on behalf of L&B Realty Advisors, HFF placed the
10-year loan with New York Life Insurance Company.
77 West Huron has studio, one-, two- and three-bedroom homes
that range in size from 536 square feet to 2,862 square feet, and have
panoramic views of the skyline.
The 25th floor functions as the amenity level and features
an indoor heated pool, sauna, exercise room, locker rooms and sundeck with
lounge furniture and grills. Additional
community amenities include doorman service, a laundry room, on-site dry
cleaners, bicycle storage and a 192-space parking garage.
The HFF team representing L&B Realty Advisors was led by
managing director Matthew Schonefeldt.
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| Matthew Schonefeldt |
“77 West Huron is currently undergoing a targeted renovation
and upgrade program that will position the asset to take maximum advantage of
its prime location, Lake Michigan views and generously-sized units,” stated
Schoenfeldt..
“The property is at the epicenter of Chicago’s best
nightlife and entertainment options; L&B’s strategic vision for the asset
will create a true boutique identity for the building that will resonate with
the most discriminating renters”,
He added, “77 West Huron also benefits from proximity to the
major employers in Chicago’s central business district, as well as the
world-class shopping on ‘The Magnificent Mile’ and plentiful public transportation.”
L&B Realty Advisors is an employee-owned, SEC-registered
real estate investment advisor. Since
1965, L&B has provided real estate investment management services to
institutional investors and family offices.
With more than $5 billion under management and 46 years of experience,
L&B has a proven track record of successfully acquiring, managing, and
disposing real estate on behalf of their clients.
Contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
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