The Largest Rental Developments to Hit Chicago in 2015
- Feb 11, 2016
Chicago—The third most populous city in the United States and a major world financial center, the Windy City is highly appealing to renters and developers alike. A total of 18 multifamily properties comprising roughly 3,500 new Chicago apartments were completed last year, adding more bling to the city’s already crowded skyline.
High-rise developments such as North Water, Arkadia Tower and State and Chestnut aim to deliver an upscale renting experience by offering amenities such as rooftop swimming pools, green features, smoke-free environments and views of the Chicago skyline.
We turned to Yardi Matrix to find out which were the largest rental developments in Chicago in 2015 by number of units. Here is a roundup of the projects that made the cut:
1. North Water Apartments – 398 units
Located at 340 E. North Water St., this 361,908-square-foot, 36-story tower offers 398 apartment units above the 14-floor Loews Hotel. Completed in May last year, the tower incorporates studio, one-, two- and three-bedroom upscale rental units, as well as a plethora of amenities. Residents have access to a 24-hour fitness facility, business center with conference room, a rooftop sky lounge and terrace, a heated swimming pool, and 230 parking spaces. (Image courtesy of North Water Apartments)
2. AMLI Lofts – 398 units
Delivered in February 2015, the two-building, 11-story development brought 398 studio, one- and two-bedroom apartments to Chicago. Located at 850 S. Clark St., the 324,606-square-foot building aims to achieve LEED Silver certification from the U.S. Green Building Council. Amenities at the site include a full-service fitness center, two rooftop sundecks, electric car charging stations, 280 covered parking spaces and scenic city views. (Image courtesy of the AMLI Lofts Facebook page)
3. State and Chestnut – 367 units
The glass-clad, 30-story tower at 845 N. State St. incorporates a mix of studio, one- and two-bedroom apartments across 263,509 square feet of space. Certified LEED Silver, the building was completed in the fall and offers dramatic views of downtown Chicago, a rooftop swimming pool and 185 covered parking spaces. (Image courtesy of the State and Chestnut Facebook page)
4. Arkadia Tower – 350 units
The 32-story tower at 765 W. Adams St. was delivered in November and is also LEED Silver-certified. Offering a blend of studios, one- and two-bedroom apartments and penthouses, Arkadia also includes a fitness center with outdoor yoga studio, a 24,000-square-foot rooftop deck and 356 parking spaces. (Image courtesy of Arkadia Tower)
5. Eight O Five – 292 units
Incorporating a mix of studios, one- and two-bedroom apartments and penthouses, the tower at 805 N. LaSalle Drive was completed in October and features 199,668 square feet of space across 34 stories. Amenities include a 33rd floor rooftop pool and sundeck, 24-hour doormen, spacious balconies and terraces and 108 covered parking spaces. (Image courtesy of Eight O Five)
Want to see which other rental developments made the list? Take a sneak peek here.