Construction Slated to Begin on $148M Joint Venture
Chicago—Construction will begin later this year on a $148 million luxury community in Evanston, Ill. The project, which was recently approved by the Evanston City Council, was proposed by a joint venture between developers Fifield Cos. and Carroll Properties.
The community, which will include 368 units, will consist of two buildings—the first building will be 14 stories and the second will be 16 stories—that will be connected by a four-story structure that includes three floors of parking and a fourth floor that has amenities. The properties will also feature 4,000 square feet of ground-floor retail space and 12 street-level townhomes.
The apartments will include studio and one-, two- and three-bedroom floor plans, averaging 500 to 1,500 square feet. They will feature quartz countertops, stainless steel appliances and high-end lighting and plumbing fixtures.
“Apartment finishes, layouts and amenities have improved dramatically in the last five years with such features as stainless appliances, 9-foot ceilings, in-unit washer dryers, granite counters in kitchens and baths, floor to ceiling windows, gyms, screening rooms, yoga studios, business centers, wifi and plank floors,” Steve Fifield, president, Fifield Cos., tells MHN.
Amenities will include a yoga studio, basketball court, fitness center, lounge area, theater, business center and an outdoor pool and spa with cabanas and grills.
The community will be located within walking distance of several restaurants, shopping and entertainment options. Additionally, residents will have access to the cultural amenities offered at the nearby Northwestern University’s campus. The community is located near the Metra trains and the CTA’s Purple line.
“There hasn’t been a high rise apartment building completed in downtown Evanston in a decade,” Fifield says. “Our project will redefine luxury apartment living when it delivers in 2015.”Tags: luxury, Mergers and Joint Ventures, New Development