This Fulton Market Apartment Tower Could Be Chicago’s Next $100 Million Trade

A major real estate deal could be on the horizon in one of Chicago’s hottest neighborhoods. Greystar is looking to sell its recently developed apartment building, One Six Six, located at 166 N. Aberdeen Street in Fulton Market.

The property, which opened in 2023, includes 223 luxury rental units and is now being marketed for sale with the help of Jones Lang LaSalle. According to sources familiar with the listing, the building could trade for between $100 million and $110 million, positioning it as a significant transaction in the current market.

The timing of the listing reflects broader trends shaping Chicago’s downtown housing market. New construction has slowed in recent years due to higher financing costs and development challenges, limiting supply in high-demand areas like Fulton Market. As a result, rents have continued to rise, particularly in top-tier buildings.

Data from Integra Realty Resources shows that Class A apartment rents in downtown Chicago increased 8.6% year over year in late 2025, highlighting strong demand for newer, high-quality rental properties.

Fulton Market, once known primarily as an industrial and meatpacking district, has rapidly transformed into one of Chicago’s most sought-after neighborhoods. The area now features a mix of office developments, restaurants, hotels and luxury residential buildings, attracting both renters and investors.

For investors, properties like One Six Six offer a relatively rare opportunity to acquire a newer asset in a supply-constrained submarket. For renters, the continued demand and limited inventory signal that pricing pressure may remain in the near term.

As the listing moves forward, the potential sale of One Six Six will serve as a key indicator of investor confidence in Chicago’s multifamily market, particularly in neighborhoods where demand continues to outpace supply.

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Ranked among the top 1% of real estate teams in the Chicagoland market, Cory Tanzer and the Cory Tanzer Group are experts in helping buyers and sellers navigate today’s market across Downtown Chicago, the North Shore, and the Western Suburbs. Recognized for their neighborhood expertise in areas such as University Village, University Commons, South Loop, and Pilsen, the team helps clients stay one step ahead by understanding where the Chicago market is headed next.