CHICAGO-Chicago Real Estate Daily reports that the local investment arm of Jones Lang LaSalle is buying the 60-story Onterie Center in the downtown area from Metropolitan Properties of America Inc. in Boston. Though a specific transaction price wasn't mentioned, sources in the article were quoted as suggesting that the 615-unit property could change hands for approximately $190 million.
The article also noted that Metropolitan paid $143 million for the building at 441 E. Erie St. in 2005. If the deal closes at the price suggested, it could represent the second-highest amount paid for a downtown multifamily property this year.
GlobeSt.com reported earlier this month that Alta at K Station is expected to close by year end at $300 million.
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