Three North Side Chicago apartment towers were quietly listed for sale this week, a move that signals institutional investors are once again circling well-located rental properties in the city. The trio, which spans River North, Lincoln Park, and Uptown, would rank among the largest Chicago apartment deals of 2026 if they trade near asking.
As first reported by Crain's, the buildings on the block are Next, a 310-unit tower at 347 West Chestnut in River North; SoNo East, a 324-unit building at 840 West Blackhawk in Lincoln Park; and Eight Eleven in Uptown. Those listings have begun circulating through broker channels this spring as buyers reboot their search for stabilized, urban multifamily product.
According to The Real Deal, Fifield Companies, the developer behind Next, is seeking roughly $135 million for the River North tower, and SoNo East is being marketed in the same high eight-figure range. The report notes that both Next and SoNo East are more than 94 percent leased, that Eight Eleven was refinanced in 2023 with an $81.2 million mortgage, and that Newmark brokers Susan Lawson, Liz Gagliardi, and Chuck Johanns are running the sales campaigns.
Why Buyers Are Circling
Institutional appetite is being fueled by Chicago’s relatively tight multifamily construction pipeline and stabilizing operating fundamentals, which make leased, amenity-heavy assets appealing to yield-focused investors. Research from institutional managers points to limited new supply and steady occupancy as key reasons capital is revisiting gateway quality properties in the city. MetLife Investment Management recently highlighted Chicago’s constrained pipeline and resilient demand as tailwinds for multifamily pricing into 2026.
What Comes Next for the North Side?
Newmark’s marketing push is expected to put these buildings in front of both regional and national buyers over the coming weeks. If either Next or SoNo East sells near current pricing benchmarks, those trades would land among the year’s largest Chicago multifamily deals. Recent comparable activity, including a sizable institutional purchase in the O’Hare area earlier this month, suggests capital is selectively available for large-scale transactions, a dynamic that could help drive competitive bidding for these North Side properties. The Real Deal covered that comparable purchase.
