While the large new apartment projects are the focus of attention, a number of out-of-the-limelight infill projects are quietly adding a significant number of new units to the West Loop market. We ventured out last Saturday for a look at some of them.
The first major project to deliver new apartments in the West Loop in 2014 is also the closest to the Loop. Catalyst (above) is topped out at 123 N Desplaines St and a stub website is touting pre-leasing in February and occupancy beginning in June for its 223 units.
The 350-unit Arkadia broke ground in June at 765 W Adams St and has reached about 20% of its 33-story height. Occupancy is projected for late in 2014 or early 2015.
Madison Aberdeen Place is a complex of four buildings at 3, 4, 20 and 22 N Aberdeen. Twenty-seven units were recently completed and occupied at 3 and 4 N Aberdeen, and an additional 54 units are under construction at 20 and 22, with occupancy planned for late spring 2014.
Michigan Avenue Real Estate Group, the developer of Madison Aberdeen Place, has begun construction of 26 apartments at 1000 W Van Buren St and 52 apartments at 1615 W Warren St.
The company has also proposed a total of an additional 133 apartments at Ada and Lake, Ashland and Madison, and 1237-59 W Madison on which it has yet to begin construction.
To recap: projects currently in the ground will add nearly 1,000 units to the West Loop apartment market.
Additional West Loop proposed projects totaling more than 1,500 units can be found at our at-a-glance list of new downtown apartment developments.