Investors Drop $200 Million on North Side Apartment Buildings

Two big apartment towers on Chicago’s North Side have sold for $200 million combined, breathing some life into a city multifamily investment market slowed by rising interest rates and wobbly financial markets. In the bigger deal, Irvine, Calif.-based Avanath Capital Management said it paid $119 million for Lincoln Park Plaza, a 256-unit mixed-income high-rise in Lakeview.