Crescent Heights Acquires Mixed-Use Asset In Chicago's West Loop For $20.1M

The property at 640 W Washington Blvd in Chicago, IL is a 35,677 square foot mixed-use asset that was recently sold for $20.1 million in a transaction involving Crescent Heights as the buyer. The deal was facilitated by Tom Svoboda from CBRE, representing Crescent Heights in the purchase.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $20,100,000.00
• Market: Chicago
• Buyer: Crescent Heights
• Buyer's Representative: Tom Svoboda (CBRE)
• Square Footage: 35,677 sqft
• Address: 640 W Washington Blvd, Chicago, IL

The acquisition of the surface lot on Washington Blvd further solidifies Crescent Heights' commitment to Chicago. Jordan Dubnow from the Matthew Pritzker Company expressed excitement about the deal and the vote of confidence it represents for the city's future. The property is currently zoned DX-7, allowing for potential future developments such as residential, mixed-use, office, or hospitality spaces. With its strategic location in the West Loop between Wacker Drive and Fulton Market, the new ownership will have numerous options for development.