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| 500 Lake Shore Drive, Chicago, IL |
CHICAGO, IL, March 19, 2014 – Developer Related Midwest has
announced 500 Lake Shore Drive is quickly approaching full lease-up,
with the 500-unit ultra-luxury rental building surpassing the 95-percent-leased
mark in just over 10 months since its May 2013 grand opening.
The 47-story glass building, which affords pristine
lakefront views from its Lake Shore Drive address in Streeterville, marked
Related Midwest’s debut rental property in Chicago and set a new standard for
the city’s luxury apartment market.
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| Curt Bailey |
This summer the developer is poised to once again raise the
bar for rental living in Chicago when it opens its second downtown apartment
tower at 111 West Wacker Drive.
“The response to 500 Lake Shore Drive has been phenomenal,
which proves that Chicago was ready for a luxury apartment building of this
caliber,” said Curt Bailey, president of Related Midwest, who noted that
traffic continues to be strong in the building’s leasing center and that all
but one of the building’s premier top-floor penthouses are rented.
“Now that we’ve had the opportunity to introduce the city to
Related’s signature approach to rental living, we’re looking ahead to unveiling
our next luxury rental property at 111 West Wacker Drive, where we’re building
on many of the same elements that have been key to our success with 500 Lake
Shore Drive,” he added.
For a complete copy of the company’s news release, please
contact:
Sarah Lyons, slyons@taylorjohnson.com,
(312) 267-4520
Kim Manning, kmanning@taylorjohnson.com,
(312) 267-4527
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