{"id":1004124093,"date":"2015-07-28T05:34:54","date_gmt":"2015-07-28T13:34:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004124093"},"modified":"2020-05-11T03:28:14","modified_gmt":"2020-05-11T11:28:14","slug":"ryan-cos-lincoln-property-to-rise-high-in-windy-city","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ryan-cos-lincoln-property-to-rise-high-in-windy-city\/","title":{"rendered":"Ryan Cos., Lincoln Property to Rise High in Windy City"},"content":{"rendered":"<div id=\"attachment_1004124096\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Ryan-Cos.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004124096\" data-attachment-id=\"1004124096\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ryan-cos-lincoln-property-to-rise-high-in-windy-city\/ryan-cos\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Ryan-Cos.jpg\" data-orig-size=\"960,768\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1435842721&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Ryan Cos\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Ryan-Cos.jpg?w=960\" class=\"wp-image-1004124096 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Ryan-Cos.jpg\" alt=\"833 North Clark Street Apartments\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Ryan-Cos.jpg 960w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Ryan-Cos.jpg?resize=300,240 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Ryan-Cos.jpg?resize=768,614 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004124096\" class=\"wp-caption-text\">833 N. Clark St. Apartments<\/p><\/div>\n<p><em>By Scott Baltic, Contributing Editor <\/em><\/p>\n<p><a href=\"https:\/\/www.ryancompanies.com\/\" rel=\"nofollow\" target=\"_blank\">Ryan Cos. U.S.<\/a>, Inc. and <a href=\"https:\/\/www.lpc.com\/\" rel=\"nofollow\" target=\"_blank\">Lincoln Property Co.<\/a> will build a 31-story, 373-unit apartment tower in Chicago\u2019s ritzy Gold Coast neighborhood, the two co-developers announced Friday, after holding a groundbreaking ceremony at the site.<\/p>\n<p>The project, referred to as 833 N. Clark St. Apartments, will be built at the southeast corner of Clark and Chestnut streets on a nearly 1-acre site purchased from U.S. Bank. The seller operates a drive-thru banking facility there, which will be torn down.<\/p>\n<p>The groundbreaking was held only days after the developers had closed on both the purchase of the land and an $88 million construction loan from U.S. Bank. Overall financials on the project were not released, but Daiwa House Texas Inc. is the primary equity investor, and the project reportedly is valued at more than $100 million. The building is scheduled to open in early 2017.<\/p>\n<p>Once completed, 833 N. Clark St. Apartments will comprise 78 studios and convertibles, 212 one-bedroom units, 76 two-bedroom units and seven penthouse apartments. Units will range from 563 to 1,252 square feet, while the penthouses will be 1,179 to 3,250 square feet.<\/p>\n<p>Apartments will feature 9-foot floor-to-ceiling glass windows, full-sized washers and dryers, oversized walk-in closets, and pre-wiring for high-speed internet and cable. Many will have private balconies. Amenities will include a rooftop sundeck with outdoor pool, private cabanas and outdoor fireplaces; a resident lounge with a cyber caf\u00e9; party room with a gaming center; and a fitness center.<\/p>\n<p>A green roof on the fourth level will feature a private terrace with bocce-ball courts, fire pits and grilling stations. Other building amenities will include secured resident storage, a dog run with a grooming station, a library, business center and conference area, the latter spaces featuring high-speed Wi-Fi.<\/p>\n<p>\u201cWe are bullish on the multi-family housing market in the city and especially the Gold Coast submarket, largely because of the continued in-migration of businesses downtown,\u201d Dan Walsh, vice president of development, Ryan Cos. U.S., Inc., told <em>Commercial Property Executive<\/em>. He cited ConAgra Foods\u2019 recently announced move from the city\u2019s western suburbs to the Merchandise Mart as \u201cthe latest in a steady stream of companies bringing hundreds of jobs to the urban core.\u201d<\/p>\n<p>\u201cThis location and this project make great sense,\u201d Walsh added, pointing out that \u201ctoday there are fewer rental units in the Gold Coast than there were 30 years ago. So while demand for this market has never really subsided, the supply has been shrinking.\u201d<\/p>\n<p>Ryan will be the design-build contractor, and Lincoln Property will be the leasing and management firm. The design team includes Ryan A+E Inc. as the design architect, Antunovich Associates as the architect of record, Studio K as the interior designer, and TGRWA as the structural engineer.<\/p>\n<p>The tower\u2019s design is intended to combine \u201ctwo contrasting but notable Chicago architectural styles,\u201d that is, Chicago\u2019s turn-of-the century architecture, in the buff-colored solid massing, dotted with punched openings, and at the north end, Chicago\u2019s Miesian tradition through an all-glass massing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two commercial real estate companies are aiming to burnish Chicago\u2019s Gold Coast.<\/p>\n","protected":false},"author":1269,"featured_media":1004124096,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13,21742],"tags":[],"class_list":["post-1004124093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-midwest","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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