New project meets demand for affordable condos, retail price
The trapezoidal island formed by State, Archer, Dearborn and Cullerton once housed a popular burlesque theater, one of numerous bawdy houses sprinkled along South State Street in the middle of the last century. Though the character of South State, and the South Loop overall, has changed considerably since then, the infamous theater building still stood as a colorful reminder of the past when Dynaprop Development Corporation purchased the site several years ago.
The developer considered retaining at least part of the old building as it turned vice into virtue, but eventually razed it to make way for Pointe 1900 on State, a four-story project that has been embraced by the neighborhood for its mix of affordably priced condos and much needed retail.
As the South Loop has become perhaps the fastest growing neighborhood in Chicago, prices have risen accordingly. Pointe 1900, however, has returned to the competitive pricing that brought new residents here in the first place, with condos starting well below $200,000. The project, www.pointe1900.com, also is addressing what has been the most common complaint of South Loop lovers by including a retail component that will add to a growing base of shops and services.
Retail space takes up the entire ground floor of the new bi-colored brick and masonry structure. Above that are three stories containing 101 condominium residences, which are being marketed by Jameson Realty Group, www.jameson.com.
The official address of Pointe 1900, as the name implies, is 1900 S. State. The “Pointe” in the moniker comes from the unusual shape of the site, which comes to a point at State and Archer, runs southwest along Archer and then south along Dearborn to its southern border, at Cullerton.
“Designing Pointe 1900 was a challenge to say the least,” says project architect Cliff Bedar. “When you consider the size of the building, the irregular shape of the lot and the need to create a dual sense of identity between the first-floor retail and the residential floors, it became necessary to emphasize function over form.”
Bedar did just that, starting with a thick limestone strip that runs horizontally around the entire building between the first and second floors, setting off the glazed retail level from the rest of the structure, which is primarily brick.
“The limestone provides identity,” Bedar says, “but when you add to it the other limestone trim on the building, it evokes a higher level of quality than you get from an all-brick structure.”
And indeed there is more limestone than on the typical condo development, not the least of which is found on the turret, an imposing element that rises above the “point” formed by State and Archer. Well above the roofline, the turret is capped with a massive limestone “bowl,” that has “1900” boldly inscribed on it. Encircling the top of the bowl is an iron railing containing light fixtures that illuminate the turret at night.
To break up the building’s horizontal emphasis, Bedar made all of the balconies along State and Archer recessed. More like terraces than balconies, these outdoor spaces add a columnar effect and a sense of height, as well as added privacy.
The building features computerized elevators with recessed lighting and carpeted floors, a security intercom system accessed by telephone, laundry and storage facilities, a fitness center and optional heated underground parking.
The condos have one to three bedrooms with one to three baths and range from 723 to 1,577 square feet.
“If you were to try to attach an overall philosophy to our developments, it would encompass high-quality construction at affordable prices, often with first-time buyers in mind,” says Howard Adelstein, Dynaprop’s Vice President. “And while Pointe 1900 offers a divergent mix of residences, approximately three-fourths of the units are of the attractively priced one-bedroom variety.”
The condos include oak flooring in living areas, private balconies or terraces, full-length wire closet shelving, Canac kitchen cabinets, track lighting, ceramic tile baths, 100 amp electrical service, multi-media pre-wiring and ceiling heights of 10 to 12 feet.
While not officially an “amenity,” the idea of an entire first floor of retail space injects a real sense of community into the project. Dynaprop has already signed leases with Subway and a dry cleaner. Final negotiations are underway with a major bank, a high-end nail salon and a sit-down Italian restaurant, according to Adelstein.
“We intend to lease the retail space with the convenience of the residents in mind,” Adelstein says. “We want to satisfy their needs, yet still respect the privacy of the development by avoiding a shopping center atmosphere.”
The project’s first phase will be complete and ready for delivery by the middle of this year and comprises 20,000 square feet of retail, 59 residential units, an underground parking garage and 25 street-level retail parking spaces. Construction of Phase II, which has 18,000 square feet of retail and 42 condos, is scheduled to begin this summer and will be completed late next year.
Prices for the one-bedroom units range from the mid $170s to the low $200s. The two-bedroom units are priced from the low $300s and three-bedroom units start at just under $400,000. Heated underground garage parking is available at $23,900. At press time, more than 60 percent of the Phase I units were sold, with delivery slated for late May or early June.
“If you shop around, you won’t find anything comparable to Pointe 1900 on a price-per-square foot basis,” says Adelstein. “And for those who want it, we have an excellent upgrade program, and we offer a $1,000 upgrade allowance at signing.”