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Upscale Apartment Property for Sale May Test Pandemic Pricing in Chicago

Newmark Knight Frank Begins Marketing Vintage 198-Unit Building With Views of Lake Michigan
J.P. Morgan Private Bank is putting the stately 850 N. Lake Shore Drive multifamily building up for sale. (Newmark Knight Frank)
J.P. Morgan Private Bank is putting the stately 850 N. Lake Shore Drive multifamily building up for sale. (Newmark Knight Frank)
By Jennifer Waters
CoStar News
August 26, 2020 | 8:23 P.M.

An upscale apartment building on the city’s tony Lake Shore Drive is more than another property with a water view that's hit the market. Because of its timing, it could be a litmus test for multifamily property values in downtown Chicago during the pandemic.

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