That’s the reward for making a bet on the neighborhood around McCormick Place, now called McCormick Square. Over the past several years, the area has attracted lots of private and public investment, part of former Mayor Rahm Emanuel’s plan to turn it into an entertainment district anchored by the convention center. Big recent projects include a 1205-room Marriott Marquis next to McCormick Place and Wintrust Arena, a 10,000-seat basketball arena and event center across from Vesta Lofts.

“As a result, we’re seeing more multifamily investment and development as renters seek out more attainably priced housing that is still close to the central business district,” Joe Smazal, senior managing partner at Interra, said in a statement.

Read article: Crain’s