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Lakeshore East |
Project Location
Chicago, IL |
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Project Description
Lakeshore East is a $70 million commitment for a multi-site residential development located within the Lakeshore East development in downtown Chicago. Lakeshore East includes ten high-rise multifamily and condominium sites and four townhome sites with total development capacity of over 3,000 units. The developer is the same group with which the BIT is developing The Shoreham, a 47-story multifamily tower in the same development. This investment will provide the Trust with a potential pipeline of additional multifamily transactions as part of the National Apartment Initiative. The Trust closed on this transaction in May 2005.
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