Phase 1 of Lofts at Roosevelt Collection Now 70% Leased
- Sep 29, 2009
Chicago–More than 70 percent of Phase One at The Lofts at Roosevelt Collection in Chicago have been leased. The project features 170 units.
“This success is all the more gratifying given the challenging dynamics of today’s rental marketplace,” says Mark Segal, president and CEO of The Habitat Company LLC, the manager of this community. The Lofts at Roosevelt Collection, initially planned as a condominium development, were converted to a rental community in August in light of the economic downturn and reduced demand for condos.
The Habitat Company team is led by Gary Lundemo, the property supervisor overseeing all residential operations at The Roosevelt Collection. According to Lundemo, “The Roosevelt Collection is an urban oasis that blends luxury apartment living with unparalleled amenities, shopping and entertainment. Given its South Loop location, superior finishes, smoke-free and pet-friendly environment, I’m not surprised the apartments are leasing so quickly.”
Located on Roosevelt Road between Clark and Wells, in the heart of Chicago’s South Loop District, The Roosevelt Collection is within walking distance to cultural and tourist destinations, including the lake front, Grant Park, Millennium Park, the Theater District and the Museum Campus, which houses the Field Museum, Adler Planetarium and Shedd Aquarium. Plans for the 1.3 million square foot complex include:
• Six levels of Lofts surrounding an outdoor plaza
• 16-screen Kerasotes ShowPlace Theatre
• Restaurants, cafes and outdoor seating in the pedestrian friendly retail plaza
• 40+ national and local retailers on two levels scheduled to open in Fall, 2010
• Three-level covered parking
• Two-acre landscaped public park hosting unique outdoor events
Rent for one-bedroom lofts start at $1,600 and for two-bedroom units at $1,800, The Roosevelt Collection’s apartments were designed by Centrum Properties to be sold as condominiums and, as a result, include finishes not typically found in other upscale apartment buildings.
“Our objective was to provide the best of the best—a home that promises both luxury and convenience and we believe that goal has been achieved,” said Centrum principal, Sol Barket.