ChicagoDowntown / Loop

New apartment developments headed for the West Loop

by Joe Zekas on 4/8/13

In keeping track of the new apartment projects that are proposed and underway in downtown Chicago we’ve tended to focus on the larger developments.

Late last week Crain’s Chicago Real Estate Daily reported on a “Reinsdorf-backed developer” that has five developments totaling 220 units proposed or underway in the West Loop.

Michigan Avenue Real Estate Group wants to put up a 25-unit rental building on Ada Street, just south of Lake Street, plus a 36-unit building at Madison Street and Ashland Avenue, executives with the Northbrook-based firm said.

The projects come on top of three other deals Michigan Avenue plans that would add a combined 159 apartments to the area.

The first phase of one of the “three other deals” is pictured above, at the corner of Madison and Aberdeen.

These smaller, infill developments can add up to enough units to affect the overall rental market in some neighborhoods, and we’ll begin tracking them on our list of new downtown apartment projects.

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{ 2 comments… read them below or add one }

the urban politician April 8, 2013 at 2:06 PM

Wow, I had no idea one of them was already under construction. Thanks for the photo. With Reinsdorf backing these projects, I’m sure they will all get financing.

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Joe Zekas April 8, 2013 at 7:34 PM

tup,

That’s just one of the buildings the developer has underway on Madison. Construction has also started on the northeast corners of Aberdeen and Carpenter.

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