CA6 Condominiums in Chicago’s West Loop 35% Sold Before Groundbreaking

 Liz Brooks

 

CHICAGO, IL, Oct. 12, 2020 — Chicago-based Belgravia Group, Ltd. announced that its latest condominium development, CA6 West Loop, is 35% sold before the groundbreaking planned for later this fall.

 

The 72-unit, seven-story building at 305-323 S. Racine Ave. features three-bedroom/three-bath, four-bedroom/four-bath, and four-bedroom/3.5-bath duplex floor plans.

 

Among the remaining homes are four large four-bedroom/3.5-bath duplexes with prices starting at $1,650,900. While the original plan for the building called for only five of these penthouse-level duplexes, Belgravia was able to add seven more after the original five sold out during the first week of pre-sales.

David T. Goldman

 

 In addition to the duplexes, CA6 offers three-bedroom/three-bath and four-bedroom/four-bath single story homes with prices starting at $835,900.

 

And due to the popularity of the private outdoor space at its other CA developments in the West Loop, Belgravia is also offering 12 single-story terrace homes at CA6 with outdoor spaces measuring 32’ x23’. These homes are priced from $885,900.        

 

“Already, CA6 is living up to the performance of our previous CA developments, which are known for being the fastest-selling condominiums in the West Loop,” said David Goldman, co-CEO.

 

“Our success with this development, our sixth in the neighborhood, speaks to the appeal of not only this location, but also the reputation Belgravia has established for building gracious urban homes with thoughtful design and quality construction. Sales velocity at CA6 is a reflection of buyer trust in the Belgravia brand.”

      CA West Loop Condominiums,  305-323 South Racine Avenue,                                                                    Chicago, IL

 

Ranging from 2,160 to 3,157 square feet, CA6 residences feature direct elevator access to a private vestibule; 10-foot ceilings and expansive windows; large eat-in kitchens with custom cabinetry and Bosch, Wolf or Sub-Zero appliances.

Also: open living/dining areas; split floor plans with bedroom wings for privacy; primary suites with private balconies and up to two walk-in closets; laundry rooms; and multiple outdoor areas for entertaining and al fresco dining.

 

Select floor plans also come with built-in offices as well as alternative layouts for media and great rooms.

 

“Homes at CA6 have been very popular with a range of buyers, but especially those looking for the space, layout and functionality of a single-family home, but with a maintenance-free lifestyle,” said Liz Brooks, vice president of sales and marketing at Belgravia Group.

 

 “In fact, several of our early sales have been to repeat Belgravia buyers, some who are upgrading to a larger home for their growing families as they want to take advantage of the building’s proximity to some of the best schools in the city.”

 

                            CA  West Rooftop Terrace

According to Brooks, all of the building’s plans are thoughtful in design with intentional spaces that give buyers plenty of space for togetherness as well as privacy, whether they need dedicated areas for working from home or extra bedrooms for raising a family.

 

 But it’s the duplex penthouse plans in particular that have garnished the most attention from buyers due to their layouts, which give a nod to a single-family-home design.

 

All duplex penthouses open onto the home’s main level, where residents enter through a private vestibule and then a gallery wall foyer that splits off between the main living areas and a sleeping wing.

 

To one end of the home is a large kitchen with an island that seats up to five, a living/dining area, corner seating area/nook surrounded by windows and a balcony.

 

To the other end of the main level is a powder room, laundry room, guest suite and the primary suite, which includes two walk-in closets and a private balcony.

CA West Condo Living Room

 

Stairs from the living area lead to the penthouse level, which includes two guest rooms, a full bath, loft, family room and an expansive 700-square-foot terrace that includes an outdoor kitchen and multiple seating areas for dining or relaxing. 

 

“We’ve offered duplexes before, but nothing of this scope in terms of size – especially the terraces,” said Brooks. “From talking to residents in the area and working with brokers, we knew there was a demand for homes that offered this type of space, both inside the residence and out. And so far, sales show they were right.

 

“With four bedrooms and over 3,000 square feet, these homes are equally suited for buyers who want a place they won’t outgrow, as well as those who want to transition out of a single-family home – whether in the suburbs or city – but don’t want to sacrifice the square footage they’ve enjoyed,” Brooks added.

 

Building amenities at CA6 West Loop include a fully equipped fitness room, meeting room, heated parking garage and bike storage.

Fulton Market District, Chicago, IL

With deliveries beginning in winter 2022, buyers at CA6 West Loop will begin meeting with Belgravia Group’s professional in-house design team starting in early 2021 to personalize their home with lighting layouts, technology wiring, cabinetry, countertops, tile, flooring and more. 

 

To give its buyers the ultimate design experience, Belgravia Group offers a broad choice of curated finishes so each homeowner can create a custom aesthetic for their new home.    

 

Located at the intersection of Jackson Boulevard and Racine Avenue, CA6 West Loop offers convenient access to the multitude of dining, retail and entertainment options the neighborhood has to offer, as well as proximity to the Loop, Fulton Market and the UIC Medical District.

 

The CTA Blue Line, the Metra Rail service and several CTA bus lines are within walking distance.

 

Buyers can view a three-bedroom/three-bath CA6 model home at 128 S. Aberdeen by appointment. For more information, please visit ca6condos.com, or call (312) 561-5222.

 

 CONTACTS:

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

Traci Failla, tfailla@taylorjohnson.com, (312) 267-4516

 

Trion Properties Bolsters Greater Portland Portfolio with Acquisition of Newly-Built, 64-Unit Multifamily Community in Gresham, OR

Hood Apartments, 1833 SE 6^th Street in Gresham, OR

 

Gresham, OR – Trion Properties, a real estate private equity firm that specializes in multifamily investments in western markets, along with joint venture partner AMC Investments, has acquired Hood Apartments, a brand-new 64-unit multifamily community in the greater Portland city of Gresham, Oregon for $12 million.

Max Sharkansky

 This acquisition brings Trion’s holdings in the region to eight properties totaling 675 units. Hood Apartments is the firm’s first purchase in the city of Gresham, the fourth largest city in the state, according to Max Sharkansky, Managing Partner at Trion Properties.   

 “As an experienced owner and operator in the Portland area, we recognized Gresham as a city with massive potential due to the affordable cost of living, family-friendly lifestyle, walkability, and proximity to a thriving business scene,” explains Sharkansky.

 “Much of Gresham’s existing housing was built prior to the year 2000. Hood Apartments, completed earlier this year, is a stand-out in the area that meets a high demand for newly developed and upgraded multifamily properties driven by a healthy local economy.”  

 

Farhan Mahmood

Gresham has continued to attract numerous big companies with its special property tax incentive programs. The city’s Enterprise Zone program has facilitated extreme growth through its public and private partnership which provides a three-to-five-year abatement on new investments, in exchange for meeting job creation and other business requirements.  

Adds Farhan Mahmood, Managing Director of Acquisitions at Trion Properties: “While our typical strategy in the Portland area is to acquire multifamily product of older vintages and implement light-to-moderate value-add renovations, we identified and secured a rare, lucrative opportunity to add this unique asset to its portfolio.

  "We’re purchasing this brand-new asset below replacement cost, demonstrating our ability to continue to strategically source acquisitions, build and maintain relationships in our target markets, and remain nimble during these unprecedented times.”  

 

Jordan Carter

Jordan Carter, Tyler Linn, Clay Newton and Joe DeJager of Kidder Matthews represented Trion Properties in this transaction.

 “This opportunity would not come about if it wasn’t for a strong group such as Kidder Matthews,” continues Mahmood. “The team put hours of hard work into this transaction and are diligent, consummate professionals, and our relationship with them is extremely valued.”  

 The asset was vacant upon closing and Trion Properties closed 14 days after the property received certificate of occupancy. Continental Partners sourced the acquisition loan based on pro-forma due to the vacancy of the building.

Tyler Linn

  Hood Apartments is ideally situated on 2.8 acres of land and just minutes from Oregon’s iconic Mount Hood, Multnomah Falls and the Columbia River Gorge National Scenic Area, offering residents some of the best scenic views in the Portland area.

 The property is less than one mile from the MAX Light Rail Blue Line, which conveniently connects Gresham to Hillsboro and Beaverton.

 Legacy Mount Hood Medical Center and Mount Hood Community College are within a short two miles of the property as well.  

Hood Apartments features spacious one- and two-bedroom apartment homes and is adjacent to a number of restaurant and retailers.  

Clay Newton

 The property is located at 1833 SE 6^th Street in Gresham, Oregon.  

 About Trion Properties  

 Founded in 2005 and headquartered in Los Angeles, Trion Properties is a private equity real estate firm that invests in value-add multifamily throughout the west coast. 

Trion has completed more than $300 million in transactions, with a portfolio of over $315 million in assets, generating an average internal rate of return in excess of 30 percent.

       Joe DeJager 

 With its fully built-out operator platform, Trion has repositioned and stabilized undervalued assets, leveraging its expertise in real estate finance and renovation of multifamily properties to drive returns for its investors.  

 Since its inception, Trion has acquired the fee interest—or in certain instances the debt secured by the fee interest—of over 2,450 multifamily units. 

To date, Trion has successfully repositioned and resold over 1,150 units and over 180,000 square feet of commercial real estate space.  

 The principals of Trion Properties are Max Sharkansky and Mitch Paskover, two real estate professionals with over 30 years of combined experience in finance, acquisitions, management and redevelopment.

Contacts:

 Natalie Passarelli

Public Relations

Jones Lang LaSalle Americas, Inc.

200 E. Randolph St.
Chicago, IL 60601

M +1 224 477 7307

natalie.passarelli@am.jll.com

 us.jll.com/investorservices

www.amcinvestments.com  

http://www.trion-properties.com/