HFF marketed the property on behalf of the seller, Archstone. L&B Realty Advisors purchased 77 West Huron for $90 million free and clear of existing debt.
77 West Huron is located within walking distance of “The Magnificent Mile” and CTA train and bus service in Chicago’s River North neighborhood. The property has studio, one-, two- and three-bedroom homes that range in size from 536 square feet to 2,862 square feet and offer panoramic views of the downtown skyline. The 25th floor functions as the amenity level and features an indoor heated pool, sauna, exercise room, locker rooms and sundeck with lounge furniture and grills. Additional community amenities include doorman service, a laundry room, on-site dry cleaners, bicycle storage and a 192-space parking garage.
The HFF investment sales team representing Archstone was led by executive managing director Matthew Lawton and managing directors Marty O’Connell and Sean Fogarty.
Archstone is a recognized leader in apartment investment and operations. The company’s portfolio is concentrated in many of the most desirable neighborhoods in and around Washington, D.C., Los Angeles, San Diego, San Francisco, New York, Seattle and Boston.
L&B Realty Advisors is an employee-owned, SEC-registered real estate investment advisor.