A first look at One Bennett Park’s ultra-luxurious apartments, opening this fall

Monthly rents start at $3,400

By Jay Koziarz Aug 2, 2018, 4:02pm CDT

As Chicago’s 70-story One Bennett Park combo apartment and condo tower races towards completion, a batch of newly released renderings provide a first look at the Streeterville project’s lavish rental accommodations.

The images come just weeks after developer Related Midwest started pre-leasing apartments in the 836-foot-tall, Robert A.M. Stern-designed skyscraper at 451 E. Grand Avenue. Although not quite as extravagant as One Bennett Park’s exclusive condominiums, the 279 rental units aim to set a new standard in Chicago’s booming rental market.

“The building is so high-end that it’s hard to explain to people,” Ann Thompson of Related Midwest told Curbed Chicago. “While a lot of newer apartments in Chicago are maybe 500 to 800 square feet in size and lack some of the bells and whistles of a condo, the exact opposite is true at One Bennett Park.

“The apartments here average 1,100 square feet and offer the same level of trim—cabinetry, appliances, and detailing—as a condo building. Rather than designing for a more transient population where renting is a financial necessity, these homes are for tenants who have made the lifestyle choice not to own.”

In addition to providing its residents with high quality finishes, the developers of One Bennett Park committed to delivering an exceptional level of design. The team tapped Stern to bring elements of his Art Deco-influenced exterior to each unit—a decision that can be seen in the bespoke cabinetry and Deco-esque kitchen island lights. The apartments continue the same color palette from the building’s common areas to feel more cohesive.

“Our residents are buying design, just like they would with a condo,” added Thompson. “Only here, you get to rent without having to compromise on anything. We think the desire for this type of product in Chicago is very strong.”

Owning a unit in the building, however, will still have perks. Despite there only being 69 condominiums in One Bennett Park (priced from $2 million to $15 million), homeowners have exclusive access to a separate entry court, lobby, fitness facility, and lounge space. The condo owners are granted access to all of the redundant rental amenities, but not vice-versa. “It’s like two buildings in one,” explained Thompson. “Which also makes it very complicated architecturally.”

Rents at One Bennett Park will start around $3,400 for a one-bedroom unit and can exceed $17,500 per month for a larger four-bedroom apartment—a family-friendly layout that’s especially hard to find in the new construction market. The high-rise is expected to welcome its first apartment tenants on October 15 followed by the condo owners in January.

The final piece of the puzzle will be the new park that gives the development its name. Designed by Michael Van Valkenburgh Associates, the firm behind Chicago’s Maggie Daley Park and the 606 Trail, Bennett Park honors architect Edward H. Bennett who—along with legendary planner Daniel Burnham—co-authored the influential 1909 Plan of Chicago.

The success of One Bennett Park will be an important test for Related Midwest, a group that is preparing to double-down on Streeterville’s appetite for luxury housing. The busy developer is currently in the planning phase for an ambitious, two-tower combination apartment and condo project at nearby 400 N. Lake Shore Drive, the site of the cancelled Chicago Spire.