July 29, 2010 – Another new rental Chicago real estate project is in the planning stage for River North. This time it’s a 49 story tower that would have 427 rental units and around 4,500 square feet of retail space located on the southeast corner of Clark and Hubbard Streets, according to a recent Crain’s article. AMLI Residential Partners and developer Albert Friedman are proposing the tower.

Construction on this planned high-rise is expected to start sometime next year with a completion date of 2013. However, Stephen C. Ross, who is executive VP of development for AMLI, said in the article that the construction schedule depends on the housing market.

Currently the new 11 story Greenway Self Park Garage is a short distance to the north of the planned tower and owned by Mr. Freidman. The article stated that residents of this new tower would be able to use the amenities that are to be located on top of the garage. Those include a landscaped deck, swimming pool, dog run and jogging path.

This planned tower would be the second in Chicago for the development company. The AMLI 900 tower, located on 900 South Clark Street and completed in 2008, is the first. That 440 unit apartment high-rise is completely rented, as stated by Mr. Ross in the article.

Besides all of the Chicago apartments that are available, there are also lots of Chicago Condos being offered for rent and on lease-to-own deals, so keep that in mind as well.

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This entry was posted on Thursday, July 29th, 2010 at 10:49 pm and is filed under Luxury Condos(t) . You can leave a response.