Common Debuts 6th Chicago Property
The 59-unit project, dubbed Common Addams, is the co-living provider’s largest in the city to date.
Common has opened its largest co-living project in Chicago through a joint venture with CityPads. The latest offering, Common Addams, offers 223 beds in 59 apartments in Chicago’s Little Italy neighborhood.
Common broke ground on the project in November 2018 and completed construction in early 2020. Located at 1401-1431 W. 15th St., the four-story community was built with more than 4,000 square feet of amenity spaces, including 300-square-foot lounges on each floor, a gym, a meditation room, remote work spaces, a roofdeck with gathering areas and grills and an on-site parking garage.
Rent for the co-living spaces starts at $900 a month and includes utilities, Wi-Fi, furniture, weekly cleanings, shared supplies, laundry and pre-stocked household essentials. Residents will also get access to Connect by Common, the company’s proprietary app that allows digital payment, access to virtual events and a platform to communicate with roommates and other residents.
Common Addams is located near the Illinois Medical District, giving tenants a close commute to their workplace or university. The co-living space is a 15-minute walk from Stroger Hospital and the University of Illinois Hospital and also a seven-minute drive to Mount Sinai and Saint Anthony Hospital.
Brad Hargreaves, Common’s founder & CEO, told Multi-Housing News that the company focused on convenience and value in developing Common Addams. He added that Common has stepped back from curating community interaction, instead letting the relationships form naturally by allowing residents to create groups on activities they prefer.
“In Chicago I’ve seen running clubs, movie nights, and cocktail-making events all pop up on their own,” Hargreaves told MHN. “In the past we tried to curate these experiences, but we’ve found that by doubling down on what renters really want, a great value, community thrives.”
COMMON’S GROWING CHICAGO PRESENCE
As the largest multifamily Chicago property under Common management, Common Addams is also the company’s sixth building in the city so far. Common broke into the Chicago market in 2017 and has since developed three other properties in partnership with City Pads, including Common Simonds, Common Maplewood and Common Racine. Outside of working with City Pads, Common’s Chicago portfolio also includes Common Briar and Common Damen.
Common also has 300 more beds under development in Chicago and is negotiating another 500 beds that the company hopes to sign this year. In total, Common has 15,000 beds under development throughout the U.S. that are 75 percent co-living, 14 percent traditional housing and nine percent microunits. According to Common, the pipeline’s average building size is 116 beds and 36 percent of the pipeline is located in new markets.