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South Loop High-Rise Sells for $126M

Chicago
South Loop High-Rise Sells for $126M

It’s still a bull market for downtown residential buildings. Crescent Heights bought Burnham Pointe, a 298-unit tower in Printers Row at 730 S Clark for $126M. It’s a tidy profit for seller Monogram Residential Trust, which paid $88M for the building five years ago, Curbed Chicago reports. The 29-story building was originally intended as a condo development but switched to rentals after the housing market collapsed. [CC]