ChicagoDowntown / Loop

Is Grand Plaza feeling heat from new buildings?

by Joe Zekas on 10/8/13

AMLI River North and Hubbard Place, two new rental towers that recently opened in River North, added a total of 877 new apartments to a market that had been clipping along at about a 95% occupancy rate.

The 481-unit Grand Plaza, which was completed in 2003, may be feeling some heat from the new buildings. As of yesterday its website reported 39 units available for immediate or within-2-week occupancy, 4 units available late this month, 10 units available in November and 2 in early December.

Grand Plaza has an excellent location and an extensive amenities package. Is that enough for it to remain competitive with the newer buildings? Which River North buildings are most vulnerable to the new competition?

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{ 1 comment… read it below or add one }

the urban politician October 8, 2013 at 1:55 PM

Grand Plaza is no longer the “newest” generation and will have to charge a notch below the most luxury rents, in my opinion.

And, by God, it’s such a nasty building. It has to have one of the worst parking podiums in the city. Good God cover that up with some bilboards or something!

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