The Davis Group

Real estate investor Allison Davis of The Davis Group is immersed in Chicago development. The company consists of Allison Davis, her son Jared Davis and Robert Koerner. Not counting their most recent projects, they have successfully done over $640 million dollars worth of renovations and new construction properties over the past few years.

DV Urban Realty Partners is a real estate fund that The Davis Group started to further its redevelopment projects. The group purchased a 30 story, 344 unit rental building on South Michigan Avenue and after renovation, leased nearly all of the space available. The company also redeveloped the Roosevelt Hotel on South Wabash Avenue and turned it into apartments for lease.

Amid a surging downtown apartment market, a fund launched by real estate investor Allison Davis has paid $65 million for a 344-unit rental building at 1212 S. Michigan Ave. The 30-story building is the first acquisition of DV Urban Realty Partners I L.P., a real estate fund that Davis Group LLC started last year, says Jared Davis, managing partner of the fund and Mr. Davis’ son. Built in 1981 and renovated in 2003, the high-rise is 95% leased.

The building was “a natural asset” to buy considering the Davis Group’s familiarity with the neighborhood, Jared Davis says. The company is building the Columbian, a 46-story condominium just north of the apartment tower, and it redeveloped the Roosevelt Hotel at 1152 S. Wabash Ave. into 42 rental apartments a few years ago. The living spaces are very affordably priced, from $600 to $1,900 each. Walsh Construction has been the primary builder for the Davis Group.

The latest new construction project from The Davis Group is The Columbian, a 46 story new high rise luxury condominium on the corner of Roosevelt Road and Michigan Avenue in the South Loop neighborhood of Chicago.

• 1160 South Michigan Avenue, Chicago
• Bedrooms: 1,2,3
• Baths: 1, 2, 3
• Square feet: from 1,571 to 2,480
• Price Range: from $350,500 to $1.3 million

The building is being constructed where the Avenue Motel used to stand. The Columbian, designed by DeStefano and Partners, features a pyramidal top and lays claim to being the tallest brick-clad facade in the city. This prime real estate location provides residents with immediate access to Grant Park, which is right outside the lobby doors. Millennium and Museum Parks are also nearby, along with the waterfront beaches of Lake Michigan. The condo's spectacular city views will never be blocked.

The best Chicago has to offer by way of entertainment, art, culture, dining and shopping are minutes from the Columbian. The Shedd Aquarium, Museum Campus, The Field Museum, Adler Planetarium, Navy Pier and Chinatown are only a few of the options open to residents. Five star restaurants and dozens of retail shopping outlets line the downtown district and Michigan Avenue. Experience the unique flavor of excitement the city has to offer or simply savor the comfort and quiet of luxury living in the condo.

The 40 levels of the building perch on an 8 story base. An indoor garden more panoramic viewing options is located on top of the 8th floor. There will be 7 levels of parking on floors 2 through 9 and 6,600 square feet of retail space. The 9th floor houses a community room with a full kitchen, seated meeting space and attached outside terrace. The lobby is staffed with a 24 hour doorman, an entertainment center for guests and there is a fully equipped fitness center with lockers.

Although The Columbian offers a choice of only three floor plans, they are designed to fit the lifestyles and needs of any individual or family. The Boulevard on floors 9 through 32 contains 7 residential units per level. The Tower on floors 33 through 39 has 5 units per floor. The Penthouse comprises floors 40 through 44 and houses only 3 luxury residences per floor with some having terraces. The final homes on floors 45 and 46 are only 2 per level, each with 3 amazing 24 foot private terraces.

Condo units are furnished with Berber carpeting in the bedrooms and hardwood flooring in other rooms. Most master bedrooms have his and her closets. The kitchens are fitted with granite counter tops, custom wood cabinets and a quality GE appliance package. Baths are spacious and contain a whirlpool tub plus shower with marble floor and trim.

The Davis Group is building a reputation for quality housing in Chicago. With new construction projects like the Columbian, as well as renovation projects, they are changing the face of Chicago real estate in the South Loop and beyond.