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Key Points
The Hugo is a nine-story, 227-unit apartment complex in River North with nearly 19,000 square feet of ground-floor retail. It was completed in 2023 and is approximately 96 percent leased.
The listing comes as downtown Chicago's Class A apartment market posted a 6.3 percent year-over-year rent increase in the third quarter, hitting an average of $3,228 a month.
This sale is part of a broader capital recycling strategy by Chicago developer LG Group, who also recently listed another project, the Arthur on Aberdeen in Fulton Market.