New Trammell Crow Suburban Aparments Lease Up in a Year
- Nov 09, 2015
Glenview, Ill.—Not all of the multifamily rental action is in core urban markets: recently High Street Residential, a wholly owned subsidiary of Trammell Crow Co., achieved stabilization at Midtown Square, a suburban property that opened for leasing about a year ago. The community, now more than 90 percent leased, includes 138 apartment units and about 9,000 square feet of first-floor retail space, including a drive-thru retail bay.
Its location is on 2.7 acres in downtown Glenview, Ill., which is a northern suburb of Chicago. “The leasing success affirms what we hoped would be the case, that a project with neighboring retail and transit is an in-demand housing format in the suburbs,” said Johnny Carlson, senior vice president in High Street Residential/TCC’s Chicago Business Unit.
The property offers one-bedroom and two-bedroom units. Common amenities include a clubroom, wine room, dog wash station, business center, bicycle storage, heated garage parking, storage lockers and a 24-hour fitness center.
Also, CorePower Yoga (CPY) opened for business at the property in early 2015, occupying about 5,000 square feet of the ground-floor retail. CPY offers individualized yoga, regardless of a student’s fitness level or familiarity with yoga.
Midtown Square won the 2013 “Best Block” Charter Award by Illinois Congress for the New Urbanism and was recognized in the top five developments for 2014-2015 at the 27th Annual CRE Awards Dinner hosted by Greater Chicago Food Depository. It also was one of the 2015 ULI Chicago Vision Awards finalists, and is a finalist for NAIOP Chicago’s 28th Annual Awards for Excellence.