Draper and Kramer, with an affiliate, purchased
the 394-unit 401 East Ontario in July of 1998.
The building was one of Chicago’s premier
luxury rental buildings, having always
maintained high occupancy rates. Its dramatic
views of Lake Michigan, rooftop health club and
dual sundecks provided apartment residents
with a high-rise building lifestyle among the best
in the city. Opening to the public in August of
1998, it was sold out in 19 months.

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