luxury apartments Archives | Luxury Living Chicago Realty

Luxury Living Celebrates 15 Years Of Real Estate Success

Posted on December 9, 2022 by LLCR Team

Marks 15th anniversary by updating company branding to reflect evolution

Over the last 15 years, Luxury Living has grown in expertise. Specialties include residential leasing and sales, multifamily thought leadership, and award-winning apartment marketing for Class A Chicagoland apartments. This month, the company celebrates 15 years of success, reflects on past accomplishments, and looks toward the future.

“Luxury Living has grown and evolved in so many ways since launching in 2007,” said Aaron Galvin, Founder and CEO at Luxury Living. “With this evolution, it felt like time to refresh our branding to reflect the company we are today and where we are headed. In becoming a nationally recognized vertically integrated real estate company, we have removed the words Chicago and Realty from the name. Today and looking ahead, we are Luxury Living, with an emphasis on Living.”

Company Growth

Founded by CEO Aaron Galvin and Chief Culture Officer Amy Galvin, Luxury Living started from humble beginnings in a River North apartment. Today, the company remains headquartered in the River North neighborhood of Chicago and has a team of over 60. The people of Luxury Living include a mix of operations, accounting, marketing, brokers, and leasing professionals supporting the firm’s exclusive marketing and leasing assignments and Chicagoland renters and homebuyers.

The company’s continued year-over-year growth and expertise continue to earn accolades across the real estate and business community. Inc. 5000 and the Financial Times have named Luxury Living one of the fastest-growing companies in North America for the past five years. The company made GlobeSt.com’s 2022 list of Multifamily Influencers, and CEO Aaron Galvin was also honored as Executive of the Year at the 2022 Illinois Real Estate Journal Awards. Year after year, the marketing team has won numerous awards for apartment marketing, content marketing, lead generation, COVID response, and more.

Investment In Culture

“Over the last few years, we’ve been focused on creating an empowering and inclusive culture. We’re seeing the benefits of these initiatives with minimal turnover during a period of significant growth,” said Amy Galvin. “We’re proud that over 20% of our team members have been with the company for five or more years, and we believe culture will be key to our future success. This is why we’ve implemented multiple new “human first” initiatives to curtail burnout, celebrate our people, and enhance employee retention.”

This year, Luxury Living set a company goal of 500+ hours of company-sponsored learning and development opportunities, including wellness initiatives like Nivati, which provides access to 1:1 coaching, therapy, nutrition, and fitness. The company also committed to the team’s professional development growth, which has already resulted in several promotions throughout the year. Luxury Living also has an industry-leading paid time off policy including extended paid family leave, time off for life disruptions, mental health days and birthdays. Benefit offerings include best-in-class health and life insurance and a company contribution towards retirement.

Learn more about joining the Luxury Living team at www.LuxuryChicagoApartments.com/join-our-team/.

Market Expertise

Luxury Living is Chicago’s most experienced development leasing company, securing over $5 billion in capitalized value for owners while leasing nearly 35% of all new apartments in downtown Chicago. The company has leased over 20,000 apartments and sold 200 condos across 50 exclusive leasing and sales assignments. Lincoln Common, Wolf Point East, Wolf Point West, One Oak Brook Commons, and Logan Apartments are some of the company’s most prominent exclusive marketing and leasing engagements. The company is also consulting on 15 new luxury developments set to deliver starting in 2024.

With the power of the brokerage team and marketing strategy coupled with the process and efficiency of our exclusive development leasing platform, Luxury Living has become the go-to brokerage for the top multifamily developers and capital partners in Chicago. The company is known for achieving record-setting rents while optimizing revenue. Developers and investors seek out Luxury Living for its leasing, pricing and renewal strategies paired with award-winning apartment marketing. Using their expertise, the company is also a general partner on its first multifamily development, a new chapter for the firm.

Looking Ahead

In April 2022, Luxury Living entered the development arena. Partnering with Mavrek Development, GW Properties, and Double Eagle Development, the firms are co-developing The Saint Grand, a mixed-use project at 218 E. Grand in Chicago. The development will feature 248 residential apartments, 8,000 square feet of ground-floor retail space, and 41,000 square feet of office space. Residential units are anticipated to deliver in early 2024.

“Developing is a natural next step in the progression of Luxury Living,” said Galvin. “As a developer, we can use the rental trends we see in the market to inform the architecture, design, and operations of a property. We look forward to expanding this line of our business over the coming years.”

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

Posted on September 28, 2022October 17, 2022 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 August 10, 2022August 23, 2022 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 2^nd 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.

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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 Announces First Development Project in JV Partnership with Mavrek Development and GW Properties

Posted on April 15, 2022April 15, 2022 by LLCR Team

A co-development and joint venture between Mavrek Development, GW Properties, and Luxury Living Chicago Realty announce plans for a mixed-use development in the heart of Chicago’s Streeterville neighborhood. Designed by NORR, the property includes 248 Class A luxury apartments, 40,000 square feet of office, and 8,000 square 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 the Northwestern Hospital campus.

“We are excited to continue to develop and invest in Chicago,” said Adam Friedberg, Partner at Mavrek Development. “We’ve assembled a best-in-class team, and we are thrilled to have secured the opportunity to add to Streeterville’s skyline and ecosystem. With a Whole Foods steps from the development site and easy access to Lake Shore Drive and Michigan Avenue, this is a prime location well suited for retail, office and multifamily.”

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.

“We have seen a shift in renter demand asking for more 1 Bedroom + den spaces and paying premiums for units with private outdoor space,” said Aaron Galvin, CEO/Founder of Luxury Living Chicago Realty. “As a co-developer, we can use 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.”

“535 St Clair 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 expected to start mid-summer with groundbreaking 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. “The project is slated to begin construction in the Fall, and we are eager to get going.”

Stay tuned for more news about this project and future LLCR developments.

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

Posted on April 16, 2021April 27, 2021 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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