Jan
31

West Loop Continues to Be a Top Spot for Chicago New Apartments

January 31, 2013

general city apartments photoLast week, we reported that investors were planning an ambitious $45 million office tower plan in the West Loop. Now, in the latest Loop real estate news, three developers are planning a total of 192 apartments in the area.

Jesse Levine, who is also known as a local parking entrepreneur, is planning a 19-story building at 723-729 W. Randolph St. Upon completion, the building will house 97 apartments plus 4,000 square feet of retail shopping and a parking garage with around 215 spaces.  Michigan Avenue Real Estate Group is planning a 26-unit apartment project at 1000 W. Van Buren St. and JRG Capital Partners LLC is aiming to build 69 units at 1118-1158 W. Adams St.

While the recent apartment boom may have some residents worried about potential overbuilding of apartments, a majority of investors say they aren’t concerned about the rise in new real estate in Chicago especially because the new office complex and apartments should attract more young professionals to the downtown area.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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