The Georgetown Co., a leading developer and owner of prestigious properties nationwide, announces the acquisition of the 496-unit K2 apartment tower at 365 N. Halsted St. in Chicago’s flourishing Fulton River District. While the building is already in excellent condition, Georgetown intends to make various improvements including upgrades to public spaces and improved amenities.
“The opportunity to participate in the growth and energy in the West Loop and Fulton Market districts attracted us to this fully-leased property, as we remain excited about Chicago’s long-term prospects in both commercial and residential activity,” said Adam Flatto, CEO of The Georgetown Co.
The property, which reflects the very best in Chicago with respect to amenities and design, was acquired from Fifield Cos. and Wood Partners. Yesterday, K2 won “Multi-Family Development of the Year” at the NAIOP Chicago Awards for Excellence.
In Chicago, The Georgetown Co. also owns the strategically positioned Gap building at 35 North State St., and is considering plans to redevelop the property when the Gap lease expires in 2017.