In the video Crain’s Alby Gallun and developer Matt Phillips tour 850 Lake Shore Drive and chat about the current rental market. The 17-story building, formerly the Lake Shore Athletic Club and a Northwestern dorm, is being renovated into 198 luxury apartments. First occupancies are slated for next month.
Phillips expects 850 to do well, based on the building’s location and character, despite a rental market that’s been softening recently. “We’re targeting a little more mature demographic” than the other new buildings, he said.