South Loop apartment tower near The 78 listed for sale

May 21, 2026 - 18:36

A high-rise apartment building in the South Loop, located just steps from the massive The 78 development site, has been put up for sale. The property joins a growing list of large downtown residential towers being shopped around as landlords look to capitalize on rising rents and a tight housing supply.

The tower, which offers hundreds of units, is seen as a prime asset in a neighborhood that has drawn significant investment in recent years. Real estate brokers say the listing reflects a broader trend: owners are testing the market while demand for urban apartments remains strong and vacancy rates stay low. The building's proximity to the future The 78 megaproject, a sprawling mixed-use campus planned along the Chicago River, adds to its appeal for investors betting on long-term growth in the area.

Industry analysts note that downtown apartment sales have picked up as financing conditions stabilize and rental income climbs. For the seller, the timing appears strategic. With new construction slowing and few large blocks of units becoming available, existing towers are fetching premium prices. The listing does not include a specific asking price, but similar buildings in the corridor have traded for well over $100 million in recent months.

The sale process is expected to draw interest from both institutional investors and private equity firms looking to expand their Chicago portfolios. A decision is likely within the next few months.