Hubbard Street Group Develops Luxury Chicago Property
- Jan 18, 2018
Hubbard Street Group will develop the Fields Lofts, the residential portion of the redevelopment of the former Marshall Field’s warehouse in Chicago’s Logan Square development.
“We looked at this a year ago and thought about how we could keep its unique aspects and also deliver residential units more affordable into a community that is growing and expanding,” Kage Brown, a partner at Hubbard Street Group, told MHN. “We are bringing great character to Logan Square at a price more in line with what people could pay in the area.”
Located at 4000 W. Diversey Ave., the Fields Lofts at Logan Square will be made up of 69 studios, 36 one-bedroom and 18 two-bedroom apartments, boasting ceiling heights as high as 17 feet. Units will also have high-end cabinetry and custom closets.
A 3,400-square-foot sixth-floor amenity space will include a co-working space, a fitness center, a chef’s kitchen, a lounge area with fireplace and an outdoor deck. There will also be covered parking for 94 cars.
“What we’re seeing is more and more people are working from home, and while we may have small, efficient units, we added space on the top floors with incredible views,” Brown said. “Co-working space that will incorporate many features you might see in a commercial space—conference rooms, group tables, computers, printers, etc., and directly outside we will have a beautiful outdoor deck with unobstructed views of downtown Chicago.”
Construction on the property is scheduled to begin in March, with an anticipated move-in date of the fall of 2018.
The residential building is part of the ongoing redevelopment of the 1.5 million-square-foot Marshall Field warehouse property, a collection of brick buildings on 22 acres. The units will be built in a 144,000-square-foot portion of buildings A and B, above a grocery store.
John McLinden, Hubbard Street’s managing partner, has completed numerous adaptive reuse developments, including The Montgomery, a 28-story luxury apartment building located in what was once the Montgomery Ward headquarters in Chicago’s River North.
“Post-recession, we’ve focused on transit-oriented developments, and we wanted to take our best practices learned from the 750 units we’ve developed over the last few years and take the core philosophies and turn them over to this Logan Square Development deal,” Brown said.