Residences with Private Rooftops and Patios Beckon Chicago Buyers and Renters

Jeff Benach

CHICAGO, IL — With summer in full swing, getting outside and basking in the beautiful weather is a priority for most Chicagoans. While the city offers a plethora of opportunities to enjoy the great outdoors, from popular rooftop bars to bustling beaches, nothing beats having your own private outdoor oasis.

Following are four communities for those who want their own space in the sun, whether they are looking to buy or rent.

 Lexington Square 4 – Bridgeport

Offering a unique trifecta of outdoor areas, including a rooftop deck, fenced-in front yard and a balcony off the kitchen, rowhomes at Lexington Square 4 feature numerous ways to enjoy and relax outside.

Located on Morgan Street, south of West 37th Place, Lexington Square 4 is a community of 21 three-bedroom rowhomes just west of U.S. Cellular Field.

“Typically, rowhomes in the city may have one or two private outdoor spaces, but to have all three is practically unheard of,” said Jeff Benach, principal of Lexington Homes. “The rooftop decks showcase impressive views of the downtown skyline providing the perfect setting for a summer party with space for a grill and multiple seating areas. And on game nights, even Cub’s fans are blown away by the direct views of the fireworks at U.S. Cellular Field from these rooftops.”

Lexington Shore - Hyde Park – Kenwood Historic District

Taking its popular rowhome floor plans closer east to Lake Michigan, Lexington Homes will soon be breaking ground on a gated community of 20 rowhomes at 4639 S. Lake Park Ave. in popular Hyde Park/Kenwood, called Lexington Shore.

“What’s great about these rowhomes is they offer private space for everyone in the family -- whether kids or the dog want to play in the fenced-in yard, owners are enjoying coffee on the kitchen balcony or there’s a book club gathering up on the roof deck,” said Benach. “And if you are looking to relax, there’s nothing like going to your own private roof deck to enjoy some fresh air and sunshine.”

Aaron Galvin

Madison Aberdeen Place – West Loop

Renters want their own private outdoor space, too, so the developers of Madison Aberdeen Place kicked it up a notch by building private rooftop spaces, complete with furniture, for the community’s two-bedroom penthouse units.

 Each private penthouse rooftop space includes a contemporary-style sofa and chairs situated around a large coffee table, offering plenty of seating for guests to settle in and linger after dinner.

  

“Michigan Avenue Real Estate Group made sure no detail was overlooked when designing these penthouse units, both inside and out,” said Aaron Galvin, owner and managing broker of Luxury Living Chicago Realty, the exclusive leasing brokerage for Madison Aberdeen Place. 

Not only are the rooftop decks outfitted with plush outdoor seating, saving residents money on furniture, but they also provide sweeping skyline views that take alfresco dining to a new level.”

 Ravenswood Terrace – Ravenswood

While some renters enjoy rooftop decks with a view, others prefer their private outdoor space to be more grounded. Luckily for residents at Ravenswood Terrace, a community of 150 luxury apartments in Chicago’s charming Ravenswood neighborhood, they can have the best of both worlds. The new rental community offers a communal rooftop terrace and sundeck with various seating areas, plus private outdoor spaces for individual units, such as the 8-by-8 patios included with each first floor apartment.

Mark Durakovic

“Our patio units have been very popular with renters who want a little bit more outdoor space than our balcony units – in fact, the patios offer 24 square feet more space than the balconies so renters can easily set up a table for four to six people on their patio,” said Mark Durakovic, principal of Kass Management Service, owner and property manager of Ravenswood Terrace.

“Plus, the patio units open onto the community’s lush 1-acre landscaped courtyard, which can easily become an extension of a resident’s home. Even something like taking a dog for a walk or simply tossing a Frisbee around becomes so much easier for renters with patios.”

 For a complete copy of the company’s news release, please contact:

Kelly Shumaker, kshumaker@taylorjohnson.com, (312) 267-4519

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

http://www.ravenswoodterrace.com/Home.aspx.

http://www.lexingtonchicago.com/.

http://www.lexingtonchicago.com/.

http://westloopluxuryapartments.com/properties/madison-aberdeen-place/.

Draper and Kramer Announces Shruti Kumar’s Appointment as Secretary of IREM Chicago Governing Council

                                         

Shruti Kumar

                                 

CHICAGO, IL – Draper and Kramer, Incorporated, a full-service national real estate firm, has announced that Shruti Kumar, CPM®, a senior property manager with the firm’s residential property management division, has been appointed to serve on the 2017 Institute of Real Estate Management (IREM) Chicago Governing Council as secretary.

“We’re so proud of Shruti for her ongoing commitment to professional development through involvement with industry organizations like IREM,” said Julie Johnson, CPM, senior vice president of management services for Chicago-based Draper and Kramer.

Julie Johnson

“For the last eight years, Shruti has been managing some of Draper and Kramer’s largest rental communities with excellent fiscal control and an organizational approach that keeps operations running smoothly. 

"We know those same qualities that make her so valuable to our team will make her a terrific asset to IREM as well.”

Currently, Kumar is senior property manager of Lake Meadows Apartments, where she oversees 1,869 rental units in the mixed-use community that includes four high-rise and five mid-rise towers on 70 acres in Chicago’s Bronzeville neighborhood.

Located between 31^st and 35^th streets, east of Martin Luther King Drive, the apartments offer city, park and lake views, and easy access to downtown Chicago via Lake Shore Drive.

“Serving on the 2017 IREM Chicago Council is an exciting opportunity for me to connect with others in the field and continue to broaden my knowledge of the industry,” said Kumar. “I am especially grateful to Draper and Kramer for helping me to grow professionally so that I’m equipped to take on this new challenge.”

 For a complete copy of the company’s news release, please contact:

slyons@taylorjohnson.com, (312) 267-4520

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

 www.draperandkramer.com.

M&R Development and Bucksbaum Retail Properties Break Ground on Addison & Clark Mixed-Use Development Across From Wrigley Field in Chicago, IL

  

From left:  Tom Moran, senior partner, M&R Development; Mike Quigley, U.S. Congressman, 5^th District; Tony Rossi Sr., president, M&R Development; Rahm Emanuel, Mayor of Chicago; John Bucksbaum, CEO, Bucksbaum Retail Properties; Jason Olt, president, Bucksbaum Retail Properties; Tom Tunney, 44^th Ward alderman.

CHICAGO, IL — A joint venture of Chicago-based M&R Development and Bucksbaum Retail Properties LLC announced it has broken ground on Addison & Clark, a mixed-use development on a 2.3-acre site at the southeast corner of Addison and Clark streets in Chicago’s Lakeview neighborhood.

 Located directly across the street from Wrigley Field, the transit-oriented development will include 148 luxury apartments and 150,000 square feet of retail space.

Rendering of Planned Addison & Clark Project,
 Lakeview Neighorhood, Chicago, IL

City and state officials, including Mayor Rahm Emanuel, and Lakeview neighborhood leaders were on hand for the groundbreaking event, where Addison & Clark’s first retail tenant, a 10-screen luxury CMX movie theater, was revealed.

“This development will create hundreds of jobs and generate an economic impact that will touch not just Lakeview – but create economic opportunities in neighborhoods throughout the city,” Mayor Emanuel said. “Breaking ground on Addison & Clark means breaking ground on a stronger future for the city of Chicago.”

“As the Cubs continue on their unprecedented winning trajectory, the excitement about the changing face of the area surrounding Wrigley Field is also reaching a fever pitch,” said Anthony Rossi Sr., president of Chicago-based M&R Development. “With so many construction projects underway near Addison & Clark, the neighborhood is headed for a retail and residential renaissance that will add a new level of sophistication to the area while also growing the city’s commercial tax base.”

A developer and owner of some of Chicago’s most noteworthy mixed-use developments like NEWCITY in the Clybourn Corridor and The Maxwell in the South Loop, Bucksbaum Retail Properties will co-develop and oversee leasing for the 150,000 square feet of commercial retail space located on the first three levels of Addison & Clark. In addition to a full-service health and fitness club, the development will include best-in-class retail, dining and entertainment options.

Anthony Rossi Sr.

Cinemex (operating as CMX), the seventh-largest cinema chain worldwide with 297 theaters and 2,593 screens, will anchor the retail portion of the development. This 10-screen, luxury dine-in movie theater will be the company’s first in the city of Chicago.

In addition to a high-end cinema experience with plush, reclining seats, the theater will offer a chef-driven menu via a partnership with Lettuce Entertain You Enterprises, as well as an expansive selection of customized cocktails. CMX will occupy 30,959 square feet of retail space on the third level, with frontage on Clark Street.

“This will be the first movie-going experience of its kind situated in the immediate vicinity of Wrigley Field,” said John Bucksbaum, CEO of Bucksbaum Retail Properties. “We are thrilled with CMX and what they will bring to the table in terms of making Addison & Clark a year-round entertainment destination for neighborhood residents.

  

Chicago-based Solomon Cordwell Buenz is the architect for the project, while Chicago-based Power Construction will serve as general contractor.

For a complete copy of the company’s news release, please contact:

Sara Williams, swilliams@taylorjohnson.com, (312) 267-4510

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

www.addisonandclark.com.

Fifield Cos. Begins Pre-Leasing For Luxe on Chicago in Chicago’s West Town Neighborhood

Randy Fifield

CHICAGO, IL — Chicago-based developer Fifield Cos. has announced the start of pre-leasing at Luxe on Chicago, a 59-unit boutique luxury rental building located in the heart of Chicago’s trendy West Town neighborhood.

Luxury Living Chicago Realty is the exclusive marketing and leasing brokerage for the community and Kass Management Services is managing the property.

“Only a few blocks from popular restaurants and shops in the Ukrainian Village – which was just recently named by Redfin as the hottest neighborhood in the U.S. – Luxe on Chicago brings luxury finishes and much-needed on-site amenities to the neighborhood,” said Aaron Galvin, owner and managing broker of Luxury Living Chicago Realty.

Aaron Galvin

 “While the majority of new-construction development in West Town has been condos and single-family homes, Luxe on Chicago will offer renters the opportunity to live in an apartment that is in line with downtown full-amenity high-rise buildings.”

Located at 1838 W. Chicago Ave., 2 miles northwest of downtown Chicago, Luxe on Chicago is just a block away from a Mariano’s grocery store and a short walk to additional restaurants and shopping in the Wicker Park/Bucktown neighborhoods.

Also in proximity of Luxe on Chicago are two convenient commuting options for residents -- a Divvy bike station and the #66 Chicago bus, which runs 24 hours a day. The new community offers a variety of floor plans, including studios, one-, two- and three-bedroom units ranging in size from 500 to 1,400 square feet. Rents range from $1,650 to $3,525.

“Creating a high-end living environment for residences goes beyond features and amenities, it’s also about providing an unprecedented level of service,” said Randy Fifield, chairwoman of Fifield Cos.

“That’s why we are proud to work with world-class experts like Luxury Living Chicago Realty and Kass Management Services, who we know will provide the highest level of service to everyone looking to live at Luxe on Chicago.”

Luxe on Chicago interior, West Town Neighborhood, Chicago

“Thoughtfully designed features like movable islands in the kitchen allow renters to configure their kitchens in a way that is suitable to their needs, whether the island is set up in a traditional layout as a food prep area or set off to the side and used as a buffet when entertaining guests,” said Galvin. 

“At the same time, the master suites with double-bowl vanities and walk-in closets add a level of functionality and convenience for couples looking to rent.”

When complete, Luxe on Chicago will be one of the first amenity-rich rental communities to be developed in the West Town neighborhood, according to Galvin. Residents will have access to a rooftop deck with grilling stations as well as dining and lounging areas. 

Additionally, to add a level of convenience for pet owners year-round, the expansive rooftop deck will also include a grassy dog run. A fitness center will provide residents with a full gym experience, while a resident lounge and business center will make working from home easy.

For a complete copy of the company’s news release, please contact:

Kelly Shumaker, kshumaker@taylorjohnson.com, (312) 267-4519

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

www.fifieldco.com

http://www.kassmanagement.com/.

http://www.luxurychicagoapartments.com.

www.LuxeOnChicago.com.

Inside Look: Former Tucson, AZ Galleria Becomes 1,200-Employee Comcast Support Center

Comcast Cable Support Center, Tucson, AZ

 TUCSON, AZ – For office tenants able to think outside of the big box, Arizona’s lingering retail vacancies can equate to major opportunity. Such is the case with the recently completed renovation of the Tucson Galleria – a $16.4 million effort led by the Phoenix office of JLL that transformed a long-vacant retail mall into a cutting-edge Western region customer support center for Comcast Cable.

Derek Ruterman

“Comcast was looking for a well-located building with a great selection of nearby restaurants and amenities, and a strong public transportation network for its employees,” said Derek Ruterman, Vice President for JLL’s Project Development Services (PDS) group in Phoenix, and manager of the Comcast renovation.

“They were able to look beyond this building’s label as ‘retail’ space to see that the property checked all of their boxes as a superior location for a new regional support center.”

Located at 4690 N. Oracle Road in Tucson, the 165,000-square-foot Comcast facility was originally built in the mid 1980s, initially serving as a multi-tenant retail mall and, later, as an American Home Furnishings store. 

The furniture retailer vacated the space several years ago, leaving the space empty until Comcast selected the building for its new support center.

Through a JLL-directed redesign, this former mall now operates as a flexible and creative corporate environment that is solely occupied by Comcast. Approximately 1,200 employees work at the site, providing IT, call center and social media services.

Construction on the Comcast project began in August 2015 and completed in the the spring of 2016. The landlord is The Tanager Company, LLC. The project architect was Acquilano Leslie, Inc. The builder was Jokake Construction.

For a complete copy of the company’s news release, please contact:

 Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

Marcus & Millichap Handles Palm Beach Eye Clinic Sale in West Palm Beach, FL

Barry M. Wolfe

WEST PALM BEACH, FL  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Palm Beach Eye Clinic, a 3,111-square foot net-leased property located in West Palm Beach, Fla., according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office.

The asset sold for $1,045,000 equating to $336 per square foot.

Barry M. Wolfe, first vice president investments, and Alan Lipsky, associate, both in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a partnership from Palm Beach, Fla and the buyer, a limited liability company from West Palm Beach, Fla.

“Through our marketing process we generated nearly fifteen offers from local, out-of-area and international buyers,” says Wolfe.  “Ultimately the property was purchased by a local buyer.

“We are continuing to see a very strong interest in net leased properties.  This is the fourth single tenant property in Palm Beach County that our team has sold in the recent weeks.  Every asset received very strong interest and sold at an aggressive price.”

Palm Beach Eye Clinic has been in business for more than 30 years and treats thousands of patients each year.  The clinic is located in an ideal South Florida location, one-half mile from Good Samaritan Medical Center, at 130 Butler Street in West Palm Beach, Fla.

For a complete copy of the company’s news release, please contact:

Ryan Nee

Vice President / Regional Manager,

 Fort Lauderdale

(954) 245-3400

Marcus & Millichap Brokers Sale of 70,800-SF IMF Business Park in Tampa, FL

Steven Dolinsky

TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of IMF Business Park, a 70,800-square foot industrial property located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

Steven Dolinsky, associate, and Luke Elliott, associate vice president investments, both in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was secured and represented by Elliott and Dolinsky.

“The buyer’s plans to revitalize IMF Business Park marks another step toward east Tampa’s path to progress,” says Dolinsky.

IMF Business Park consists of two, multi-tenant industrial properties located at 2502 East Wilder Avenue and 5107 North 22nd Street, both in Tampa, Florida. The two industrial buildings are contiguous properties with a retention area comprising the third parcel included in the sale.

The business park is strategically located less than one mile from U.S. Highway 41 and one mile from Interstate 275, both are major highways within the populous Tampa Bay area.

“After casting a wide marketing net, the selected buyer ended up coming from out of the area, but saw the value in the Tampa Bay market,” said Elliott.

For a complete copy of the company’s news release, please contact:

Richard D. Matricaria

First Vice President / Regional Manager,

 Tampa, FL

(813) 387-4700

Marcus & Millichap Arranges Sale of Dollar General Site in Chesnee, SC

Daniel Hurd

CHESNEE, SC – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a 9,014-square foot net-leased Dollar General located in Chesnee, South Carolina, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

Daniel Hurd, associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer was secured and represented by Hurd, and Raj Ravi, broker of record, assisted in closing this transaction.

The Dollar General is located at 5098 Chesnee Highway in Chesnee, South Carolina. The subject building is 9,014 square feet, constructed in 2005 and sits on approximately one acre of land. 

Dollar General currently operates in more than 43 states and focuses on the sale of items such as foods, snacks, health and beauty aids, housewares, cleaning supplies and seasonal items.

The company has been rapidly expanding and is set to open approximately 800 new locations this year.

“Throughout our strategic marketing campaign we were able to general multiple offers on this deal, which resulted in a purchase from an out-of-area buyer,” says Hurd. “The buyer, an individual investor out of Mississippi, sees this investment as a great long term, passive cash flow opportunity, and is optimistic about the tenant continuing to extend the lease moving forward.”

.

For a complete copy of the company’s news release, please contact:

Richard D. Matricaria

First Vice President / Regional Manager, Tampa

(813) 387-4700