A unit of New York Life Insurance reportedly bought the Park Evanston apartment building at 1630 Chicago Ave. for approximately $130 million. The Park Evanston has 283 units and is 24 stories. The deal reportedly includes retail space leased to Whole Foods. The building was built in 1997.
Crain’s Chicago Business reported that the average rent for an apartment in the Park Evanston is $2,492 a month, and that the buyer is contemplating to spend $5.7 million renovating the building.