Tag: Chicago luxury apartments

The Saint Grand Welcomes First Residents

Posted on by LLCR Team

The Saint Grand, a co-development and joint venture between Mavrek Development, Double Eagle Development, Luxury Living, and GW Properties, began welcoming its first residents last month. The mixed-use development is located in the heart of Chicago’s Streeterville neighborhood. The Saint Grand includes 248 Class A luxury apartments at 218 E. Grand Ave, 45,000 square feet of offices at 535 N. St Clair, and 8,000 square feet of street-level retail at the corner of Grand Avenue and N. St. Clair.

 

“The Saint Grand’s apartments fuse vibrant Chicago living into sophisticated design, seamlessly integrated with the thriving Streeterville community,” said Aaron Galvin, Founder of Luxury Living. “After the first few weeks of leasing, we are thrilled by the initial traction.”

 

The Saint Grand’s apartments feature a mix of floorplans ranging from studios to 2 Bedrooms + Dens, emphasizing in-unit workspaces and private outdoor space to accommodate post-pandemic renter preferences. A suite of community amenities includes a state-of-the-art fitness center, co-working spaces with ten private study/work rooms, upscale lounges, and a rooftop pool deck scheduled to open in May.

 

“The Saint Grand offers highly requested amenities, including in-unit workspaces to accommodate work-from-home and private outdoor space,” said Galvin. Using real-time rental trends to inform this property’s architecture, design, and operations has been incredibly helpful. Initial feedback is proving our development thesis resonates with renters.”

 

In addition to the multifamily offering, the property includes The Offices at The Saint Grand, 45,000 square feet of flagship Class A office space located at 535 N. St Clair. The two full floors of office space also include private outdoor space, modern ventilation systems, and other intentional post-pandemic health safety elements. Office tenants will benefit from accessing and enjoying the apartment amenities.

 

“As one of the most active development groups in Chicago, we’re thrilled with the market’s reaction to The Saint Grand,” remarked Adam Friedberg, CEO at Mavrek. “In the coming weeks, we will be unveiling a lineup of exciting retail tenants poised to elevate the neighborhood’s vibrancy and enrich the experiences of both residents and office tenants.”

 

Double Eagle President Andrew Juiris added, “The Saint Grand is already exceeding expectations. We couldn’t be happier with the level of luxury and quality the property offers residents, shoppers, and employers.”

 

Along with the development team, The Saint Grand is the result of collaboration among industry leaders NORR (architecture), Lendlease (construction), Harken Interiors (interior design), and Cushman and Wakefield, who will oversee residential and commercial property management.

 

Learn more about the apartments at LiveSaintGrand.com.

 

Inquire about the Offices at The Saint Grand at WorkSaintGrand.com.

 

 

Meet The Saint Grand: Luxury Living Chicago Realty’s First JV

Posted on by LLCR Team

Development Team Secures Financing, Starts Construction, and Announces Name

A co-development and joint venture between Mavrek Development, GW Properties, Luxury Living Chicago Realty, and Double Eagle Development has closed on $102.2 million construction financing with MSD Partners.

JLL worked on behalf of the borrower, Mavrek Development, GW Properties, Luxury Living Chicago Realty and Double Eagle Development, to secure the four-year loan through MSD Partners, L.P.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Chris Knight.

“We are excited to get this project financed and begin construction,” said Adam Friedberg, Partner at Mavrek Development. “Mavrek Development is excited to continue our growth as one of the most active development groups in Chicago”

In addition, the team has announced the name of the property as The Saint Grand.

Designed by NORR, the 21-story property includes 248 Class A luxury apartments, 40,000 square feet of office, and 8,000 square feet of street-level retail on the northeast corner of E Grand Avenue and N St Clair.

The apartments are located at 218 E. Grand Ave., steps from Michigan Avenue shopping, dining and entertainment and walking distance to Lake Michigan and Northwestern Hospital campus.

The development will feature a mix of floorplans ranging from studios to 2 Bedrooms with an emphasis on in-unit workspaces and private outdoor space to accommodate post-pandemic renter preferences. There will also be a suite of amenities including an innovative package receiving service offering, state-of-the-art co-working lounge, specialized fitness center and outdoor pool and deck.

“After an exceptionally strong residential leasing season, we have even greater confidence in the ultimate success for The Saint Grand,” said Aaron Galvin CEO/Founder of Luxury Living Chicago Realty. “As a co-developer, we are using the rental trends we are seeing in the market to inform the architecture, design, and operations of this property. We have every confidence this property will be well received in the market.”

In addition to the multifamily offering, the property will include Class-A office space with a rare flagship opportunity located at 535 N. St Clair. This is the first Class-A office delivery in Streeterville in several years. The two full floors of office space also include private outdoor space, modern ventilation systems and other intentional post-pandemic health safety elements. Office tenants will be able to enjoy the apartment amenities as an added benefit.

“We’re seeing a flight to quality in the office market in Chicago,” stated Anthony Hrusovsky, Partner at Mavrek. “Companies are using new space and residential level amenity offerings to attract their employees back to the office.”

“The Offices at The Saint Grand will be the first of its kind in the Streeterville submarket, which we think will result in strong tenant demand,” added Shai Wolkowicki, Principal of GW Properties.

The property will replace a parking garage located at 535 N St Clair. Demolition is underway and groundbreaking is anticipated by the end of the year. The office will be ready for tenant build outs to start Q3 2023, with the residential delivering in early 2024.

“This development is the culmination of many hours of hard work and team collaboration,” said Peter Koch, Partner at Mavrek. “We are excited to start going vertical.”

See additional renderings and press coverage at:

Luxury Living Chicago Realty Named Exclusive Marketing and Leasing Provider for VISTA Property’s 741 North Wells in River North

Posted on by LLCR Team

CHICAGO (August 10, 2022) – Developer VISTA Property and its general contractor, Skender, broke ground today on 741 N Wells Street, a new mixed-use multifamily rental building in Chicago’s River North neighborhood. Designed by Antunovich Associates, the 21-story, 201,000-square-foot development will include 168 apartment units, communal tenant amenities and an elegant building lobby. Located prominently at the corner of Chicago Avenue and Wells Street, 741 N Wells is one of the latest new developments going up in River North.

 

“River North is booming. People want to live and work in dynamic live-work-play neighborhoods that form the heart of downtown Chicago,” said Ark Latt, Chief Development Officer, VISTA Property. “We look forward to continuing our collaboration with Ald. Brian Hopkins and the entire 2nd Ward to contribute a real estate asset that supports and enhances a strong community.”

 

The multifamily building will include 50 studios, 101 one-bedrooms and 17 two-bedrooms, as well as a rooftop terrace with pool, meeting facilities, exercise area, bicycle storage and parking for roughly 50 vehicles. The building will include expansive floor-to-ceiling windows on all facades, along with exceptional 9-foot ceiling heights offering unique views for all residents.

 

“I am incredibly proud of our team and the hard work that has gone into planning and coordinating this project before any shovels hit the ground,” said Justin Brown, President & CEO, Skender. “We’re thrilled to be working with VISTA Property and Antunovich again. This is going to be another impressive building for the neighborhood.”

 

VISTA Property financed the project with a first mortgage loan from Huntington Bank, and has also engaged Luxury Living Chicago Realty, downtown Chicago’s premier marketing, consulting and residential leasing brokerage firm.

 

“We are excited to help execute VISTA Property’s first large scale multifamily property in Chicago,” said Aaron Galvin, CEO of Luxury Living. “Having collaborated with VISTA, Antunovich and Skender throughout the development process, we are confident this property will set a new standard for boutique luxury rentals in River North.”

 

The team of VISTA Property (developer), Skender (general contractor) and Antunovich Associates (architects) recently completed 609 W. Randolph, a fifteen (15) story boutique Class A commercial office building serving as a gateway to Fulton Market.

# # #

 

About VISTA Property

VISTA Property is a family-owned international private real estate investment firm with a diversified portfolio of commercial, retail, and multifamily investments in urban centers. Core holdings are located in Chicago, New York City, North Carolina, Florida, London with an added focus on expanding into other exciting urban markets. For more information, visit VISTAprop.com.

 

About Antunovich Associates

Antunovich Associates is an architectural, planning and interior design firm with offices located in Chicago, Washington, D.C., Los Angeles, Austin, and Buffalo. Founded in 1990 by Joseph M. Antunovich, FAIA, and employing in excess of 100 design professionals to support projects nationwide, Antunovich Associates is deeply rooted in the belief that creating exceptional buildings is a collaborative process between the client, the builder, and the architect. For more information, visit antunovich.com.

 

About Skender

Skender is a full-service building contractor and one of the nation’s top 100 construction firms, according to Building Design & Construction. We combine Lean process with high-performing teams to deliver unmatched results and maximum value. Headquartered in Chicago with an office in Indianapolis, Skender serves its clients in the Midwest and across the country. For more information on Skender, visit skender.com.

 

About Luxury Living Chicago Realty

Founded in 2007, Luxury Living Chicago Realty has unparalleled experience marketing and leasing luxury multifamily properties in Chicago. Our team provides best-in-class customer service with a seamless showing and leasing process. With our extensive knowledge of the Chicago real estate market, our leasing professionals provide invaluable insight. We are able to understand the renter’s needs and priorities and are happy and fulfilled in helping to find the perfect new home. Our passion is to empower people to live their best life. To learn more about Luxury Living Chicago Realty, visit luxurylivingchicago.com.

Luxury Living Chicago Realty Recognized for Excellence With Three 2022 CAMME Awards from the Chicagoland Apartment Association

Posted on by LLCR Team

At this year’s annual CAMME Awards, hosted by the Chicagoland Apartment Association (CAA) on April 29, 2022, Luxury Living Chicago Realty was recognized with three CAMME Awards for excellence in the Chicagoland rental housing industry. Learn more about each award below.

 

2022 CAMME Award Wins

 

 

Associate Website

Our Objective

Our brokerage-focused website – www.luxurychicagoapartments.com – was built to be a consistent resource for Chicagoland luxury renters. With the goal of informing our clients, we produce guides, checklists, blog posts and more to empower renters to learn about Chicago’s luxury apartment market, local nuances and more.

Our Target Market

Our target audiences are renters relocating to Chicago, renters living in downtown Chicago looking for guidance in their apartment search, homeowners looking for a pied-a-terre or downsize, and past clients. Our team has helped thousands of luxury renters find a place to call home. 

The Result
Our easy-to-navigate website filled with resources, blog posts, beautiful and comprehensive apartment inventory, LuxuryChicagoApartments.com has generated nearly 5,000 leads (4,976) from January 1, 2020-December 31, 2021. With 2021 seeing a 20% growth in leads compared to 2020.

 

Property Website

Logan Apts. is a Class A multifamily development in Chicago’s Logan Square neighborhood. The neighborhood has seen many changes in recent years as chef-driven restaurants, new housing and retail conveniences have moved into the area. Logan itself was built on the site of a demolished Discount Mall on an undeveloped stretch of Milwaukee Avenue.

When our teams began working on branding & marketing, we selected “Logan” as a name to humanize the project and center it on building relationships with the Logan Square neighborhood. Our communications strategy leveraged this connection, using the website as an instrumental tool for keeping the community informed.

We knew the project was going to be transformational for Logan Square, so we set out to build a website that both established the Logan brand and drove leads all while showcasing the positive impact of Logan on the community.

We secured the URL LiveLoganChicago.com, which hosted the website designed and built by Luxury Living Chicago Realty. 

The Result

Following the launch of our website in January 2020, we saw early success by connecting with our email and retargeting lists built from the Logan Apts. landing page. In total, 1,697 submissions were generated by the landing page.

We successfully reached our target personas, and the building was 90% leased by March 2021. From January 2020-March 2021, the majority of the executed leases were from residents that were already living in Logan Square or were relocating from out of state. The majority of residents are aged 25-35, 44.7% live alone and 35.9% are unmarried couples.

From January 2020–March 2021, LiveLoganChicago. com received 131,115 unique website sessions with an average session length of 0:47 seconds.

Logan’s website continues to be at the center of everything we create, and every campaign is set up to measure success or quickly adapt based on insights from our leasing data. 

 

Social Media Program

Wolf Point East is a 698-unit luxury apartment community located at the intersection of the three branches of the Chicago River. Our social media strategy began early on during construction and evolved to communicate progress, leasing milestones and resident activity. 

Running the luxury apartment building’s social media marketing, our content prioritizes Instagram and extends to Facebook, Google Business, and affiliate accounts through TikTok. This combination maximized exposure through impressions and reach to Wolf Point East’s target market of renters.

From September 1–December 31, 2021, our numbers continue to increase: 

  • Instagram posts, reels and stories reached 97,400 accounts with 1,803 accounts engaging with Wolf Point East’s content 
  • Wolf Point East’s Google My Business account had over 100,000 total views with 12,000 actions (website visits, request directions, call) and 86,200 total searches for the property 
  • Facebook had 114,700 total page reach with 2,800 of the reach being organic. There were 180 total reactions (likes, comments, and shares) 
  • From 24 posts, 48 stories, and 1 reel, Instagram reached 31,900 accounts and gained 144 new followers. The account also received engagement from 795 accounts 
  • Luxury Living Chicago Realty posted a tour of Wolf Point East’s penthouse on the company’s TikTok profile that generated 15,100 video views and 15,800 reach

 

For a complete list of 2022 CAMME Award winners, please visit www.cammeawards.com.

 

Learn about our multifamily leasing services here.

 

Luxury Living Chicago Realty Named A Finalist in Two Categories for PR Daily’s 2021 Content Marketing Awards

Posted on by LLCR Team

For the third consecutive year, Luxury Living Chicago has been named a finalist in PR Daily’s Content Marketing Awards, this year placing in two categories. The first category, Content Marketing for the Purpose of Lead Generation, we highlighted our “Consistency as a Key Strategy for Inbound Content Marketing.” and is the third consecutive year we placed as a finalist. The second category we were nominated for is PR Daily’s Thought Leadership Campaign, where we discussed “Providing Clarity in Uncertain Times”.

 

Submission requirements for PR Daily’s Content Marketing Awards included details about our goals, strategy and tactics, execution, and evaluation in terms of success, results or ROI. A summary of what we included in our submission is as follows.

 

Lead Generation – Consistency as a Key Strategy for Inbound Content Marketing

 

Consistent content creation is an essential part of our inbound marketing strategy to build lead generation, which is rooted in three key principles: attracting, engaging, and delighting customers. Along with other success metrics, excellence in these key areas accounts for a significant increase in new leads.

 

The Luxury Living Chicago Realty site was built to be a resource for anyone looking for an apartment in downtown Chicago. Every week at least three new blog posts are published and shared throughout marketing channels that link back to the website.

 

Every month our team reviews a list of SERP opportunities, meets with our sales teams to discuss commonly asked questions, and analyzes the top performing content driving traffic to our website.By the end of the award timeframe, the LLCR site ranked  in the top 2 Google search results for 288 queries, a number that has continued to increase month over month since the website’s creation in 2016.  

 

Thought Leadership Campaign – Providing Clarity in Uncertain Times

 

As part of our submission for the Thought Leadership Campaign, Luxury Living Chicago Realty made numerous updates to the LuxuryChicagoApartments.com website that enabled us to address COVID-19 concerns and strategically shift to virtual leasing.

 

Thought leadership was deployed to generate bylined articles and secure media interviews about how LLCR was continuing to operate safely during the pandemic and to share best practices and key learnings with the real estate industry. From Chicago Agent Magazine to Bisnow to The Real Deal’s, CEO Aaron Galvin worked closely with Chicago’s real estate media and multifamily trade publications to share important data and metrics about Chicago’s luxury apartment market as well as best practices related to marketing and leasing apartments during a pandemic.

 

Galvin published multiple articles featuring real-time insight and learnings via the Forbes Real Estate Council and Inman.com. In April, How To Lease An Apartment Sight Unseen and How To Improve Remote Leasing Efforts With Video ran with the goal of sharing strategies that had been working for the company. In May, he shared additional insight in the article How To Convert Apartment Website Traffic To Leases, followed by his July submission Apartment Leasing Has Changed For The Better: How To Succeed With Multiple Leasing Options.

 

On March 3, 2021, Aaron Galvin hosted the Chicago Luxury Apartment Market Update. Months in the making, the goal of the virtual event was to share company data and key learnings from the past year. The event featured a keynote from Galvin, a market report from the company’s Director of Leasing strategy, a candid interview between a luxury renter that moved during the pandemic and her leasing agent and culminated to a panel discussion with some of the biggest names in Chicago real estate. The panel discussion was moderated by Galvin and featured key figures from Hines, Fifield and Related. The virtual event was attended by 300+ industry peers from developers to property managers to investors.

 

–

 

Being recognized as an organization that is included with a group of notable names in business is both an accomplishment and an honor. All winners for PR Daily’s Content Marketing Awards will be announced in January 2022.

 

If you would like to learn more about Luxury Living Chicago Realty’s multifamily marketing services, please sign up for our newsletter below. We share recent thought leadership articles, case studies, multifamily data and more in our newsletter.

Luxury Living Chicago Realty Named a Finalist In Multiple Categories at Upcoming Illinois Real Estate Journal Awards

Posted on by LLCR Team

The Illinois Real Estate Journal recently announced the finalists for its 2021 awards program, and Luxury Living Chicago Realty and its clients are finalists in multiple categories. LLCR’s CEO Aaron Galvin is a Finalist in Executive of the Year, and the team’s COVID response is a Finalist in the category of Best COVID Plan. Exclusive marketing and leasing assignments Logan Apartments and Wolf Point East are also both finalists in the category of Project of the Year – Multifamily. Learn more about why we made the finals below.

 

Executive of the Year – Aaron Galvin

 

Coming off the heels of an impressive year in 2019, Luxury Living Chicago Realty (LLCR) had an extraordinary first quarter in 2020. Then the pandemic hit and forced many businesses and leaders to shift in the way they conduct business. That was no exception for Aaron Galvin, CEO and Co-Founder of Luxury Living Chicago Realty. 

 

In early March, and prior to the city mandate, Aaron made the call to move the firm’s operations, marketing and support teams to a full-remote schedule to ensure the safety of the team. While March – June is the peak leasing season for apartment rentals, the health and well-being of his team came first. Aaron quickly established a cross-department contingency planning committee to pivot the business to the virtual world. In addition, as a thought leader in the Chicago apartment market, Aaron made collaborating and connecting with other industry leaders a priority. Aaron’s leadership was essential to the success of the firm during an unprecedented time. It was also important to Aaron to ensure all LLCR employees would remain in their position at the same compensation levels – which was accomplished.  

 

Aaron has always been a thought leader and innovator in the niche of luxury apartment marketing and leasing. Throughout the year, Aaron generated six bylined articles about how LLCR was continuing to operate safely during the pandemic as well as sharing best practices and key learnings with the real estate industry.

 

With 2020 now behind us, Aaron has remained committed to fine-tuning a self-guided leasing tour experience that will remain available for those interested. Aaron continues to push himself and his team to think about how they can use this inflection point to redefine their potential and continue to achieve outstanding results in the year ahead. 

 

Aaron’s continued leadership, transparency, and innovation in such a tumultuous time has proven successful. Frequently named on the Inc. 5000 list of fastest-growing companies, LLCR’s revenue exceeded $8 million in 2020 – a company record.

 

Best COVID Plan – Property Services

 

While the pandemic negatively impacted the world, Luxury Living Chicago Realty (LLCR), remained committed to navigating new waters and serving clients. Chicago’s stay-at-home order went into effect on March 20, 2020, simultaneously with LLCR’s peak leasing period, the firm knew they had to pivot its business model to one that not only provided a safe leasing experience for their clients and employees, but that also helped their clients better understand how the changes affected them.

 

LLCR planned, executed, marketed – and on March 18 – launched a virtual sales experience across our portfolio of properties. This happened in less than 10 days, was ahead of competitors, and before the official stay-at-home order. The process is still used today but now adapted for flexible showings. In tandem, LLCR developed training programs for all sales agents that included required mock tours with LLCR’s Leadership Team to practice before touring with clients for a best-in-class experience.

 

As the pandemic continued and additional guidance was provided, LLCR launched yet another new process to allow renters to customize their showing experience with three different options.

 

  1. Remote tour:  Clients are virtually guided to view high-quality photos, videos, and 3D tours of amenities and units.
  2. Self-guided tour: Clients can tour apartments in-person at their own pace with contact-free guidance from the leasing team.
  3. In-person tour with updated safety precautions: Traditional in-person showing following updated safety protocols. This includes signing a covid waiver, sanitizing hands upon entering a home, cleaning between showings, wearing a face mask at all times, and maintaining a 6-feet distance.

 

These options then needed to be communicated to clients and the industry. The marketing team developed new content, like how to Find An Apartment Remotely, and Video Campaigns, with SEO in mind to help clients find more information about leasing and moving during the pandemic. The blog Can I Still Move During the Chicago Stay at Home Order became the company’s second most popular post and 7th most visited page in 2020 with 4,000 unique views. The post climbed to rank in the top three results for online searches such as “Can I move in Chicago” and “Moving during Covid in Chicago”. Marketing also targeted communications to the luxury apartment and real estate industry. This was done through six bylined articles and 20 press placements sharing best practices and key learnings with the industry to operate safely during the pandemic. Additionally, LLCR started a monthly Instagram Live series that featured selected experts to provide relevant information for renters, homeowners, and industry professionals. 

 

By the end of 2020, LLCR completed 5,935 virtual tours and recorded over 300 videos to support virtual leasing. By pivoting to virtual leasing and effectively communicating Covid-19 concerns, LLCR not only was able to find success through the pandemic, but it allowed them to have their greatest revenue year in the company’s 13-year history. 

 

Project of the Year – Multifamily

 

Wolf Point East

wolf point east apartments

 

Wolf Point East is a 698-unit luxury multifamily tower located on the premier riverfront site that activates both the riverfront and the streetscape north of the Franklin/Orleans bridge. The tower features architectural excellence from renowned firm of Pelli Clarke Pelli, including a series of offset planes landing lightly within the park. Wolf Point East is one of three total buildings that are part of the Wolf Point master plan. The tower has thoughtful placement to maximize views for residents. Wolf Point East offers unique resident amenities including modern gathering spaces, business & study lounge, full-floor fitness club, indoor/outdoor pool & sun balcony, and pet lounge with spa & outdoor patio. 

 

 

Logan

Logan Apartments

 

Located along the Milwaukee Avenue Corridor, Logan Apartments has easy access to transit like the Blue Line, bike routes, and highway to downtown or O’Hare airport. A block to our North is Logan Square Park, a public green space designed by Jens Jensen as part of the Chicago Boulevard System, and the perfect spot to enjoy summer art festivals, read a book, walk your pup, or visit the farmer’s market. Along every avenue, boulevard, street, and corridor, there is something to discover in this vibrant neighborhood, steeped with history.

 

Luxury Living Chicago Realty looks forward to celebrating at the live event on July 22. See all of the finalists on the event website.

Learn about our multifamily leasing services here.

Luxury Living Chicago Realty Stabilizes Wolf Point East Six Months Ahead of Schedule

Posted on by LLCR Team

Wolf Point East, an Iconic Apartment Tower Above the Chicago River, Hits 95% Leased

 

Luxury Living Chicago Realty (LLCR) announces Wolf Point East, a 698-unit luxury apartment building, has hit the 95% leased milestone. 

 

“As the exclusive marketing and leasing provider for Wolf Point East, we have seen demand for this building remain incredibly strong throughout the pandemic. Of all the many projects and challenges I have faced in my career, ensuring success for this incredible property in the midst of a pandemic is high up there,” said Aaron Galvin, CEO at Luxury Living Chicago Realty. “Not only is leasing six months ahead of schedule, but we have exceeded pro-forma rents and continue to set a higher bar for what can be accomplished in Chicago multifamily.”

 

Located at the intersection of River North, Fulton Market and the Loop above a four-acre riverfront park, Wolf Point East is designed by internationally renowned Pelli Clarke Pelli Architects in partnership with Pappageorge Haymes Partners. 

 

The luxury apartment building offers studio to three-bedroom penthouse floor plans. Limited availability remains at the property, including the Penthouse Collection. Two-bedroom penthouses start at $6,595 per month and three-bedroom penthouses start at $13,995 per month.

 

Building amenities include an indoor pool with south-facing terrace and sundeck, a full-floor expansive fitness club and exercise studio, private coworking lounge with conference rooms, outdoor dog run and inviting pet amenities, elegant gathering spaces for dining and entertaining and a club area complete with social games and a golf simulator.

 

Wolf Point East will also soon welcome Blue Bottle Coffee to the ground floor retail space in summer 2021. 

 

“We are thrilled to reach this leasing milestone, and we could not be more pleased with the beautiful community we have created,” said Will Renner, Managing Director at Hines. “We are also excited to welcome Blue Bottle Coffee this summer, which adds another amenity for our residents and the neighborhood.”

 

The development team is composed of Hines, Wolf Point Owners LLC and the AFL-CIO Building Investment Trust. Wolf Point Owners LLC is a part of Park Holdings Group LLC which is the principal investment entity of the Kennedy Family. Learn more about the apartments and future updates at www.WolfPointEast.com.

 

Learn about our multifamily leasing services here

Wolf Point East, an Iconic Apartment Tower Above the Chicago River, Hits 90% Leased

Posted on by LLCR Team

Luxury Living Chicago Realty announces Wolf Point East, a 698-unit luxury apartment building, has hit the 90% leased milestone.

 

“As the exclusive marketing and leasing provider for Wolf Point East, we have seen demand for this building remain incredibly strong throughout the pandemic,” said Aaron Galvin, CEO & Founder of Luxury Living Chicago Realty. “While much of the Chicago luxury apartment market experienced rent decreases and muted leasing absorption for the past year, Wolf Point East has exceeded all leasing metrics throughout the lease-up. This is a testament to the quality of construction, thoughtful amenities, world-class ownership team, and unit mix offering larger average unit sizes, comfortable for the current work from home environment.”

Located at the intersection of River North, Fulton Market, and the Loop above a four-acre riverfront park, Wolf Point East is designed by internationally renowned Pelli Clarke Pelli Architects in partnership with Pappageorge Haymes Partners.

Building amenities include an indoor pool with a south-facing terrace and sundeck, a full-floor expansive fitness club and exercise studio, a private coworking lounge with conference rooms, an outdoor dog run and inviting pet amenities, elegant gathering spaces for dining and entertaining, and a club area complete with social games and a golf simulator.

Wolf Point East is also excited to announce that Blue Bottle Coffee will open in the ground floor retail space in summer 2021. The Oakland-based specialty coffee company is known for its world-class single-origin and blend pour-overs and espresso drinks, as well as its attention to quality and sustainability. This will be their first location in Chicago and the largest in the company’s United States portfolio.

“We are thrilled to reach this leasing milestone, and we could not be more pleased with the beautiful community we have created,” said Will Renner, Managing Director at Hines. “We are also excited to welcome Blue Bottle Coffee this summer, which adds another amenity for our residents and the neighborhood.”

The development team is composed of Hines, Wolf Point Owners LLC, and the AFL-CIO Building Investment Trust. Wolf Point Owners LLC is a part of Park Holdings Group LLC which is the principal investment entity of the Kennedy Family.

Learn more about the apartments and future updates at www.WolfPointEast.com.

Learn about our multifamily leasing services here

Luxury Living Chicago Realty Hits Leasing Milestones at Norweta, The Jax, Logan Apartments and Wolf Point West

Posted on by LLCR Team

Luxury Living Chicago Realty is pleased to announce exclusive leasing and marketing assignments Norweta, The Jax, Logan Apartments and Wolf Point West have reached leasing milestones and are at least 95% leased.

“In January and February 2020, we leased 284 units, and the market was very strong. In January and February 2021, we leased 550 units – a 93% increase,” said Aaron Galvin, CEO and Founder of Luxury Living Chicago Realty. “This unseasonably high leasing velocity is a great start to a new year and helped us achieve numerous milestones at properties we are exclusively marketing and leasing.”

Norweta

Norweta, developed by Boston-based Broder Development, features 40 luxury apartments and 32 condominium residences. The apartments are 100% leased, and Luxury Living Chicago Realty is the exclusive marketing, leasing and sales brokerage for both the rental apartments and for-sale condominiums.

“Throughout the pandemic, we’ve seen that renters will pay for the best of the best, and condo buyers are seeking more space and extraordinary finishes, and this has held true especially at Norweta,” said Galvin. “Norweta has raised the bar for rental residences in Chicago. Each apartment and condo features the highest level of finishes, expansive layouts and private outdoor space. The apartments and condos at Norweta live like a single-family home but enjoy the benefits of best-in-class on-site property management and thoughtful amenities.”

The Jax

The Jax is a 166-unit apartment development in the West Loop, developed by LG Development. This luxury apartment building offers studio, one-bedroom and two-bedroom floor plans.

“The Jax fills a unique space in the West Loop and caters to the luxury renter that does not require every amenity, but wants quality finishes and well laid out floor plans paired with a prime location,” said Galvin. “Buildings like The Jax performed well during the pandemic for many reasons including already lower pricing in a competitive market and less emphasis on amenities. The property’s close proximity to the Illinois Medical District also helped as that area continues to thrive, even in the pandemic.”

Logan Apartments

Logan Apartments, located in Chicago’s Logan Square neighborhood, features 220 luxury apartment units ranging from studio to two-bedroom floor plans. The property also includes 62,000 sq. ft. of retail including the neighborhood’s first Target, a welcome addition to the neighborhood. This mixed-use multifamily property was jointly developed by Fifield Companies and Terraco Real Estate.

“The leasing success at Logan Apartments is a great example of how Chicago’s luxury renter socio-economic composition has not changed from 2019 to 2020,” said Galvin. “For the most part, these are neighborhood renters who maintained employment through the pandemic, were able to work remotely, and are most likely to have increased compensation and disposable income as the economy recovers materially in 2022 onwards.”

Wolf Point West

Wolf Point West, located at 343 W. Wolf Point Plaza along the Chicago River, features 509-luxury apartment units and offers studio to two-bedroom penthouse floor plans. Wolf Point West delivered in 2016 and is owned and operated by Hines,  Magellan Development, Wolf Point Owners LLC and the AFL-CIO Building Investment Trust. Wolf Point Owners LLC is a part of Park Holdings Group LLC which is the principal investment entity of the Kennedy Family.

“While our company is best known for luxury lease-ups, the pandemic brought on new opportunities to oversee marketing and leasing at previously stabilized properties,” said Galvin. “In addition to reaching 95% leased at Wolf Point West, we have also optimized the lease expiration schedule and positioned the property for ongoing success and future price increases.”

LLCR’s exclusive leasing portfolio consists of various types of Class A properties from the newest most upscale lease-ups to stabilized properties. LLCR oversees marketing and leasing for fifteen multifamily properties comprising nearly 3,800 apartments in downtown Chicago. The brokerage firm is also currently consulting for a number of developers for future skyline-changing ultra-luxury multifamily developments set to deliver in 2023-2025. 

Luxury Living Chicago Realty Hits Leasing Milestones at Norweta, The Jax, Logan Apartments, and Wolf Point West

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