AmTrust RE has successfully acquired Parkline Chicago, a 26-story residential high-rise situated at 60 E. Randolph Street in the East Loop neighborhood of Chicago. The purchase was facilitated by CBRE’s team consisting of John Jaeger, Justin Puppi, and Jason Zyck. This impressive building spans over 210,000 square feet and boasts a total of 213 units including standard rentals as well as luxurious penthouses.
Among its commercial tenants are popular brands Smoothie King and Starbucks occupying approximately 6,200 square feet of retail space within the building. According to AmTrust’s President Jonathan Bennett: “We have had a strong presence in the Chicago Loop for many years now and we are excited to continue investing in this vibrant city.” With ongoing revitalization efforts throughout downtown Chicago and major tech companies like Google establishing their headquarters nearby, there is an increasing demand for residential spaces in the area.
AmTrust anticipates that with these developments taking place over the next few years there will be an influx of tech professionals into East Loop making it an ideal location for their latest acquisition – a luxury apartment building catering to this growing demographic.
