Wingspan Development Group Unveils Chicago Property
The garden-style community features a demo kitchen and hoteling suites.
Wingspan Development Group has opened its 284-apartment luxury community in Plainfield, Ill. The asset, situated at 14750 S. Wallin Drive, is 40 miles southwest of downtown Chicago.
The eight-building, garden-style community, constructed by Nicholas & Associates, is 80 percent leased. According to Yardi Matrix data, the asset has been in preleasing since November 2021, with an average absorption rate of 16 units per month.
Sixteen30 features a cybercafé, an outdoor grilling area and office and pet spaces. The property has a 7,500-square-foot clubhouse with pool, which won a Platinum Key Award for community design/amenities from the Home Builders Association of Greater Chicago. Additional amenities include a coffee bar, fitness center, yoga studio, demonstration kitchen and office and hoteling suites.
Studio, one-, two- and three-bedroom apartments range from 600 square feet to 1,500 square feet. Individual units feature washers and dryers, 9-foot ceilings, walk-in closets, keyless entry and a patio or balcony option.
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Downtown Plainfield, a 10-minute walk from Sixteen30, has a variety of dining, shopping and recreation options. Less than a half-mile from the property is the PACE Park-n-Ride facility and the Wallin Oaks Elementary School. Plainfield North High School and Ira Jones Middle School are in proximity to the community.
The Nov. 1 opening ceremony was attended by development partners and local officials, including Plainfield Mayor John Argoudelis.
Lincoln Property Co. is heading up leasing and property management for the community.
The Chicago multifamily market is on a solid trajectory despite playing catch-up. After $3.9 billion in transactions in 2021, the first seven months of 2022 added $1.4 billion. While transactions are down 14 percent year-over-year, rents in the area are rising.