Change is in the air at the corner of Randolph and Desplaines streets, the future site of R+D659, one of the West Loop’s most exciting new condo developments.
As the unabashedly modern building takes shape on the eastern edge of the neighborhood, it’s difficult not to marvel at the sleek new development and its contrast to the surrounding Randolph Street market district.
The building design is the handiwork of award-winning Chicago architecture firm Brininstool + Lynch, which is credited with designing some of Chicago’s most ambitious residential developments in recent years. The large, L-shaped building features architectural metal and concrete with clear and translucent glazing on its façade, accented by spacious inset and cantilevered balconies. The balconies will be constructed of metal and opaque glass, which will maximize the natural light inside the condos.
R+D659 refers to the building’s address, 659 W Randolph St, near the intersection of Randolph and Desplaines streets. It’s no accident that the name is geographically inspired, because location is one of its greatest assets.
Situated on the eastern side of the Kennedy Expressway, residents that work in the Loop will enjoy a quick walk to the office.
“The location of the building is important because it’s on Randolph Street restaurant strip, but it’s also very accessible to the Loop – it’s closer to the Loop than any other building in the West Loop market” says Dominic Adducci, the managing director of developer Mesirow Financial Real Estate.
Because it’s nestled between work and play, with the Loop to the east and dining and nightlife just to the west on Randolph and Halsted streets, R+D659 is attracting a lot of first-time buyers between the ages of 25 and 35. Adducci says the typical buyer is a young professional with a healthy sense of gastronomic adventure, but that the building appeals to a very broad demographic.
Part of that appeal has to do with R+D659’s indoor / outdoor amenity floor, which includes an outdoor pool with a landscaped sun deck, a party room with a wet bar, plasma TV, pool table, fitness center, and a fully-wired business center.
“All of the special features – the pool, sun deck, fitness center – are there to help support the lifestyle aspect of the project, and create a sense of community,” Adducci says, adding that Mesirow Financial has already hosted a number of parties in an effort to foster a sense of sociability among future residents.
When it comes to finishes, buyers are offered so many options that they can craft the home that they have in mind. “We’re offering such very broad range of upgrades, it’s really a customizing process,” Adducci explains. “There aren’t any upgrade packages, but you can choose individual upgrades.”
“Standard finishes let people get completed apartments without spending a lot of extra money,” he adds. Some of those finishes include European cabinetry, 1.25-inch granite countertops, stainless steel appliances, and natural slate floor tiling in the bathrooms.
Adducci acknowledges the nationwide slowdown in new condo sales, but says that Mesirow Financial Real Estate is managing to buck the trend by offering some of the most competitive financing available. Buyers will receive a 1.5-percent discount off the market mortgage interest rate at the time of commitment. “And with the rates the way they’re going, we could see people getting mortgages at 3.5 percent,” says Adducci.
“We’ve always positioned it from the inception to be a very high-quality product, both in terms of the design and value,” Adducci says.
Unit sizes range from 655 square-foot convertible studios to 1,626 square-foot penthouses. Prices start in the $270s and top out in the $750s.
The sales center and model located at 626 W Randolph St are open from noon to 6 p.m. Monday through Friday and noon to 5 p.m. on weekends.