the lex

case study

A condo deal abandoned during the 2008 downturn, Magellan Development, in partnership with ST Residential, converted this gorgeous 35-story tower into Chicago’s South Loop ultimate luxury high-rise apartment community.

Anchored by Kara Mann’s fiercely directive design, the building made waves.

329 units leased up in 12 months at a 26% gain to pro forma rates.

HFF sold the asset at a record-breaking price after receiving over 88 best and final bids for the portfolio.

The Lex Property