Kayne Anderson JV Buys Michigan Avenue Residential Tower

Kayne Anderson JV Buys Michigan Avenue Residential Tower
News| July 25, 2025| Jasmine Kilman
Chicago & Midwest + Apartment Buildings

A joint venture between Kayne Anderson Real Estate and CEDARst Companies has acquired Millie on Michigan, a newly built 47-story luxury residential tower in Chicago’s Loop.

300 N Michigan Avenue was completed in 2022 and includes 289 luxury apartments and 25,000 square feet of retail space. Amenities include a rooftop pool and lounge, coworking spaces, a modern fitness center, a dog run, and integrated smart home features. The property’s occupancy was 95% at the time of sale.

 The 47-story tower was developed by Sterling Bay and Magellan Development Group. Designed by bKL Architecture, the 523-foot glass structure includes 25,000 square feet of retail, 280 hotel rooms and 289 residential units. Situated just blocks from several of Chicago’s attractions, including the Chicago Riverwalk and Millennium Park. The project is part of CEDARst Opportunistic Fund I, which launched in February 2025.

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