Oct
24

Construction Commences on Luxury Chicago Tower

October 24, 2011

Ground was broken last week on a new downtown high-rise that will focus on two currently prevalent themes in the Chicago real estate industry: The rental market and building green.

Chicago-based AMLI Residential, a nationwide developer of multifamily housing, is replacing a parking lot at the southeast corner of Clark and Hubbard in upscale River North with a luxury 50-story apartment tower.

The project will provide 409 high-end rental units and will be designed and constructed for LEED Gold Designation.

The pet-friendly tower will be upscale on all levels:

*As part of Chicago’s Green Permit Process, the building’s design will incorporate historic and elaborate architectural details and lighting.

*This will be a smoke-free community, which means no smoking on site at all, even in apartment units.

pool

This looks more like a resort than a Chicago apartment building.

*A rooftop deck will include a 22,700-square-foot outdoor area with a pool, private cabanas, a fire pit, jogging paths, a dog run, an outdoor movie screen and other entertainment spaces.

*The development will include a club-size fitness center with a separate yoga studio, a private library and dining room, a theatre room with gaming systems, a cyber cafe, an exclusive resident lounge and clubroom, and a resident “sun-drenched” business center with a morning room and a coffee bar.

*The ground floor will offer 4,500 square feet of dining, shopping and entertainment space, which will be managed by Friedman Properties.

the groundbreaking

AMLI officials broke ground on the site on Oct. 17.

*Rentals will be available in studio, convertible, 1-, 2- and 3-bedroom units.

*Apartments will include granite counter-tops, designer lighting, hard-surface flooring, built-in wine racks, private balconies and beautiful skyline views.

Designed by Chicago-based architectural firm Solomon Cordwell Buenz, ground was broken on this AMLI River North tower last Monday. Completion is expected in November of 2013, though first occupancy could take place that July.

Homeownership is hitting historic lows during this tough economic time for the housing industry, and many residents in Chicago are moving toward the rental market.

Rents in the new Chicago high-rise are expected to hit the higher end of city standards, but that’s the price you pay to live in a resort-like setting surrounded by an eco-friendly environment.

Want to know more? You can find more information on the River North project at amli.com.

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