Chicago Construction Report - May 2015
With summer drawing near, major construction projects are launching throughout the windy city. The large amount of projects can be partly contributed to a recent construction boom in Chicago, which has generated a lot of opportunities for commercial and residential developers.
Chief among some of Downtown Chicago’s latest additions are the Arkadia Tower & JeffJack Apartments. Both buildings boast impressive amenities as well as prime downtown locations. These new downtown apartments really cater to the increasing millennial market, who don’t want to commit to a mortgage anytime soon.
Looking forward, it is estimated that this surge in construction will lead to 3,000 new apartments downtown by years end. A couple projects that will soon be breaking ground include:
The Sinclair will be a 35 story apartment building located at 1210 n. Clark. The impressive building will feature everything from studio apartments to 3 bedrooms, and will be aiming for LEED certification. To achieve LEED certification, The Sinclair will have a podium-top green roof and utilize recycled construction materials.
East Village Apartment Complex
Just having received building permits from the city, the construction for this $13 million apartment and retail development will likely begin very soon. Stationed between 1822-50 W Chicago ave, this complex will feature 59 apartments, 15.000 sq ft of ground retail floor space, and 49 parking spots.