{"id":1004126548,"date":"2015-08-31T05:16:34","date_gmt":"2015-08-31T13:16:34","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=359580"},"modified":"2021-05-14T18:44:11","modified_gmt":"2021-05-15T02:44:11","slug":"windy-city-apartments-undergo-major-revamp-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/windy-city-apartments-undergo-major-revamp-2\/","title":{"rendered":"Windy City Apartments Undergo Major Revamp"},"content":{"rendered":"<p><em>By Ioana Neamt, Associate Editor<\/em><\/p>\n<div id=\"attachment_359581\" class=\"wp-caption alignright\" style=\"width: 160px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/MidPointe-1.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"size-thumbnail wp-image-359581\" title=\"Midpointe Apartments\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/MidPointe-1.jpg\" alt=\"Midpointe Apartments\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Midpointe Apartments<\/p>\n<\/div>\n<p>A 424-unit apartment community in southwest Chicago is getting a fresh start.<\/p>\n<p><a href=\"https:\/\/castlelanterra.com\/\" rel=\"nofollow\">Castle Lanterra Properties<\/a> (CLP) is investing in substantial upgrades at a 42-year-old multifamily community previously known as Southgate Apartments. The New York City-based company acquired the property in April 2014, and has since allocated $3 million for upgrades at the site.<\/p>\n<p>The four-story, eight-building asset will be rebranded Midpointe Apartments, due to its location \u2018midway between urban and suburban Chicago\u2019.<\/p>\n<p>\u201cOur goal is to provide a top-grade property, with unit finishes that one might see in upscale Class A urban core properties within Chicago, while maintaining a high level of affordability and giving residents good value,\u201d Elie Rieder, founder &amp; CEO of CLP, said. \u201cThis is the only property undergoing meaningful upgrades within the submarket.\u201d<\/p>\n<p>Since acquiring the property, CLP invested in roof replacements, new elevators, luxury renovations to residential units, and new, energy-efficient LED lighting systems. The company intends to convert units previously used for maintenance shops and storage to apartments, and also add a new fitness room, business center and on-site leasing office to the property. Midpointe Apartments has an occupancy rate consistently in the 95 percent range, and is conveniently located right next to a large private school.<\/p>\n<p><em>Image courtesy of Castle Lanterra Properties<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A 424-unit apartment community in southwest Chicago is getting a fresh start.<\/p>\n","protected":false},"author":192,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21742],"tags":[],"class_list":["post-1004126548","post","type-post","status-publish","format-standard","hentry","category-chicago","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Windy City Apartments Undergo Major Revamp - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/windy-city-apartments-undergo-major-revamp-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Windy City Apartments Undergo Major Revamp\" \/>\n<meta property=\"og:description\" content=\"A 424-unit apartment community in southwest Chicago is getting a fresh start.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/windy-city-apartments-undergo-major-revamp-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-31T13:16:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T02:44:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/MidPointe-1.jpg\" \/>\n<meta name=\"author\" content=\"Ioana Neamt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/windy-city-apartments-undergo-major-revamp-2\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/windy-city-apartments-undergo-major-revamp-2\/\",\"name\":\"Windy City Apartments Undergo Major Revamp - 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