CHICAGO—As reported in GlobeSt.com last week, Georgetown Co. just completed the acquisition of K2, the 34-story, 496-unit apartment tower at 365 N. Halsted St. for $215 million, another sign that the Fulton River District has appeared on the national radar. And Adam Flatto, chief executive officer of Georgetown, tells GlobeSt.com that the New York-based firm considers the property, completed in 2013, “a long-term investment; we're thinking in terms of decades.”

In addition to the “incredible growth occurring in the West Loop,” he adds, Georgetown was attracted to the building due to the type of units that Fifield Cos. and Wood Partners developed for K2. Besides being, in terms of amenities, top-of-the-line product, the new units are modestly-sized, not family-sized, precisely the kind favored by millennials who want to make their homes near the CBD and its available jobs. “That's a perfect fit for us.”

The economic and social forces drawing so many younger workers into the city will last for a long time, Flatto believes. And even if the market does change in significant ways over the next couple of decades, Georgetown remains committed to “always improving and making relevant upgrades to the properties we own.”