Real Estate
Developer Gets $70 Million For Evanston Apartment Building
1717 Ridge Avenue sold before any units were leased, according to Crain's.
Developers sold a new apartment building at 1717 Ridge Ave. in Evanston to pension fund adviser Invesco Ltd. for $70 million, according to Crain's Chicago Business.
Crain's estimates that the price, which works out to about $400,000 per unit, is the highest per-unit price ever paid on an apartment building in the Chicago suburbs.
The building will have studios and one-, two- and three-bedroom apartments, according to the 1717 Ridge Ave. website. Units will have high ceilings, "sleek finishes" and stainless steel appliances, according to the website.
For the full story, visit the Crain's website.
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