Chicago’s 200 Squared to be Converted to Apartments
- Oct 11, 2019
Lincoln Property Co. has recently taken over management of 200 Squared, a 42-story residential tower in the Loop of Chicago, and will convert the 329-unit property from corporate housing to luxury apartments. Built in 2011, the high-rise property at 210 N. Wells St. will be rebranded, losing the first word of its former name Oakwood 200 Squared.
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The conversion will also entail design-conscious renovations to the units and common areas. Owned by investment groups advised by National Real Estate Advisors and Midwest Property Group, the property features 24 separate floorplans including studios, convertibles, one-bedroom, one-bedroom plus dens and two-bedroom apartment units. Amenities of the centrally located community include a 24-hour concierge, fitness center, indoor swimming pool, onsite dry cleaning and housekeeping, and a complimentary coffee service.
Midwest Property Group developed the property at the corner of Lake and Wells Streets, hiring the architectural firm of Solomon Cordwell Buenz to design one of the most sustainable residential high-rises in the Loop. The property’s eco-friendly features include 8,500 square feet of green roof on two levels, bamboo siding (instead of veneer or wood) and floor-to-ceiling windows with translucent glass.
The property, which is walkable to the central business district and sits above an entrance to the Clark/Lake L station, is currently more than 95 percent occupied, according to Yardi Matrix.