Lendlease Starts Preleasing at Chicago Community

Construction at The Reed, the second building at Lendlease's Southbank project, is expected to finish upthis year.

The Reed at Southbank. Image courtesy of Lendlease

Lendlease is nearing completion on the second community at its master-planned Southside development in Chicago’s South Loop neighborhood.

The company has started preleasing at The Reed at Southbank, which expects its first resident move-ins in late May. Lendlease broke ground on the project in 2021 and plans to complete construction sometime this year.

Perkins+Will is the property’s architect, while Bozzuto will serve as the property manager. Lendlease secured a $117 million development loan from Cain International for the project in November 2021.

The 41-story residential tower at 234 W. Polk St. will host 224 units, offering studio, one-, two- and three-bedroom apartments ranging from 544 to 1,417 square feet. The units were built with exposed concrete ceilings and floor-to-ceiling windows, with balconies included in select apartments.

While the residential units are located on floors nine to 22, The Reed will have a 15,000-square-foot amenity space on the eighth floor that will include a pool, lawn, outdoor kitchen, cabanas and fire pits. Elsewhere at the property, residents will be able to access to a fitness center, show kitchen, lounge room, virtual sports simulation room, salon, massage room, media room and rooftop garden. There will also be some amenity spaces in The Reed’s lobby including a bar, as well as a mailroom, bicycle parking and remote work and social gathering spaces. The community will have 24-hour front desk service.

Bozzuto will also offer residents additional services, including plant care, feline care, newspaper delivery and in-home package delivery when residents are away from their homes.

Located in downtown Chicago, the apartments are near many retail, restaurant and entertainment options, including the Willis Tower, still popularly known as the Sear Tower, and the Art Institute of Chicago, as well as the Field Museum. Many Chicago Transit Authority train and bus stops are also located nearby.

Second Southbank community

In a statement, Ted Weldon, executive general manager of development for Lendlease’s Chicago office, noted that there is high demand from renters at time when the number of newly constructed apartments in the Chicago area is at a historic low.

As the second building at Southbank, The Reed follows The Cooper, which sits adjacent to The Reed at 720 S. Wells St. and was completed in 2018.

When fully built out, Southbank will total approximately 1,200 apartments and offer office space in high-rise towers, a retail fixture called “Southbank Market” and a two-acre green space, “Southbank Park.”

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