In Chicago's latest real estate boom, apartments are king. Developers delivered thousands of new apartment units to the greater downtown area last summer, and this year is looking to be another repeat. Many of the downtown high-rise towers under construction at the moment are rental projects, and the trend does not appear to be slowing down anytime soon. As competition between developers and their new downtown rental towers continues, renters now have more options than ever to choose from. There are still a handful of developments that are leasing but still months away from opening—Next in River North and The Parker in the Fulton Market area are just two examples. To help offer a clearer view of the current rental landscape throughout the greater downtown area, here's a look at 20of Chicago's newest (and priciest) luxury rental developments.
Note: The buildings are listed in geographic order from north to south.
This Loop apartment high-rise will turn two years old this summer, but even still, OneEleven is one of downtown's newest and priciest apartment towers. Located on Wacker Drive on the very north end of the Loop, the tower overlooks the Chicago Riverwalk and is well within walking distance to the city's commercial core. The building boasts a plethora of luxury amenities, including a multi-level outdoor rooftop terrace with an indoor/outdoor pool deck. Expect to drop somewhere around $2,300 per month for an available studio unit.
Having just recently celebrated its second birthday, 73 E Lake is still one of newest rental towers in the Loop. The 42-story tower features 332 apartments, with convertible units ranging between $2,300 to $2,900. Amenities include an indoor dog run, a yoga studio, an indoor pool with a waterfall and a two story cafe and conference space.
The West Loop is bursting at the seams with new apartment and office development and the new Catalyst Apartments tower is another example of the neighborhood's increasingly competitive rental landscape. Designed by Chicago's Brininstool + Lynch, the 19-story apartment tower officially opened in October 2014 and features 223 rental units, an outdoor rooftop pool, an outdoor dog run and a "zen garden."
Located on Green Street just a block from the hip Soho House, the new 17-story Gateway development has delivered 167 rentals to the popular West Loop neighborhood. While the building is mostly leased up, available micro apartments are going for $1,600 per month.
Located in the booming West Loop, the new Arkadia Tower is similar to other downtown luxury offerings but offers a variety of floor plans, including studios, one-, two-, and three-bedroom units. The building boasts a large 24,000-square-foot amenity deck that features an outdoor pool and dog run. Studios start at just under $1,800 per month.
The glassy tower block at Jefferson and Jackson is also a newer entry to Chicago's rental scene. Simply dubbed JeffJack, the 15-story building features 190 apartments and an assortment of amenities. The apartments have a raw, almost dorm-like feel to them, and the building features a courtyard area for residents to convene. Studios start around $1,500 per month.
The new North Water Apartments, which occupy the same building as the Loews Hotel, opened just a little over a year ago. Composed of a combination of studios, convertibles, one-, two- and three-bedroom units, the new rental development stands over Streeterville and offers great views of downtown and Lake Michigan. Studios start at just under $1,900 per month.
Located in the condo-filled River North, this new 295-unit development is just over one year old. Expect a plethora of luxury amenities and great views here. Available studios start at $1,740 per month.
The 35-story, 367-unit State & Chestnut is yet another downtown rental tower that came online last summer. In addition to the gym and rooftop deck, the development offers some hotel-like amenities, including maid service, wake up calls and pet care. Available studios start at just under $1,900 per month.
At three years old, 500 LSD is one of the "older" developments on our list, but it still remains of the city's priciest and most luxurious rental towers, and thus worthy of a mention. The 47-story tower is butted up against Lake Shore Drive and offers unobstructed views of Lake Michigan and the downtown skyline. Prepare to cough up some serious cash though, as available studios start at $2,400 per month.
Chicago developers are churning out new apartment projects with luxury amenities at an alarming rate, leaving many pre-recession and recession-era rental developments in the dust. Completed in 2009 as Streeter Place, the 54 story tower at Ohio and McClurg in Streeterville has recently undergone a major overhaul and has taken a new identity as Atwater Apartments. Newly renovated units start around $1,700 for a studio space.
MILA, short for Michigan and Lake, is one of the latest to join the growing crowd of Loop apartment towers. The 41-story tower is delivering 402 luxury rentals to the section of Michigan Avenue between Millennium Park and the Chicago River. Single bedroom apartments lease for between $2,300 to 3,500 a month while corner two-bedrooms units with balconies start around $4,000 and can approach $4,900.
Simply dubbed 1000 South Clark, this new 29-story tower has delivered a whopping 469 rental apartments to the booming South Loop neighborhood. And like other pricey rental towers, there is no shortage of amenities at this building. The high-rise offers up five resident lounges, a rooftop deck, a doggy daycare, and a spa and fitness center with private sports facilities such as basketball and racquetball courts, an indoor pool, and a driving range.
This new mixed-development for Hyde Park is just one of several designs from Studio Gang Architects coming to the South Side neighborhood. The retail portion of the 15-story development is anchored by a 50,000-square-foot Whole Foods while the residential component features 180 apartments. Rents in the recently opened building start at $1,800 per month.
While it may not be the tallest building in Chicago, the new rentals at 858 Franklin are some of the priciest. At the time of opening just a year ago, a one-bedroom unit was in the wide range of $2,300 to $3,200 per month.
The 19-story apartment that stands over the New City mega-development on the edge of Lincoln Park welcomed its first tenants last autumn. While the tower is not located downtown, pricing will be similar to rentals found in the Loop and West Loop. Studios at New City start around $2,000 per month.
The 18-story Xavier Apartments at 625 W. Division Street is one of the latest entries to the growing number of new high-rise rental developments coming online throughout the greater downtown area. However, this 240-unit building is one of the first to open near the former Cabrini-Green. The LEED Gold certified design comes from GREC Architects and the building features 10% affordable units and 10% for the Housing Choice Voucher (HCV) program.
The once sleepy Block 37 shopping center is getting a huge shot in the arm in the form of a 38-story, 694-unit rental tower. In terms of unit count, the project is the biggest to hit the Loop in decades. The building is not yet fully completed but is currently leasing. Studios start at just over $1,900 per month.
Those who are always seeking the latest and greatest will likely swing by Wolf Point West for a tour. The new 48-story rental tower just opened this year and features a whopping 509 apartments. The tower is just one of three planned for the once sleepy Wolf Point site at the confluence of the Chicago River. Apartments start in the $2,000 range for a studio.
This new mixed-use development is yet another major project for the Hyde Park neighborhood. Because of the nature of the project and its location, the development was quite controversial during its proposal and initial approval process. However, the 13-story, 267-unit apartment block is now leasing.
In the last several years, the Fulton Market area has been booming with new development in the form of hotels, restaurants, and office space. However, The Parker, a new 29-story apartment tower, will be delivering 227 apartments to the popular neighborhood. The building will be welcoming its first move-ins in the coming weeks.
This Loop apartment high-rise will turn two years old this summer, but even still, OneEleven is one of downtown's newest and priciest apartment towers. Located on Wacker Drive on the very north end of the Loop, the tower overlooks the Chicago Riverwalk and is well within walking distance to the city's commercial core. The building boasts a plethora of luxury amenities, including a multi-level outdoor rooftop terrace with an indoor/outdoor pool deck. Expect to drop somewhere around $2,300 per month for an available studio unit.
Having just recently celebrated its second birthday, 73 E Lake is still one of newest rental towers in the Loop. The 42-story tower features 332 apartments, with convertible units ranging between $2,300 to $2,900. Amenities include an indoor dog run, a yoga studio, an indoor pool with a waterfall and a two story cafe and conference space.
The West Loop is bursting at the seams with new apartment and office development and the new Catalyst Apartments tower is another example of the neighborhood's increasingly competitive rental landscape. Designed by Chicago's Brininstool + Lynch, the 19-story apartment tower officially opened in October 2014 and features 223 rental units, an outdoor rooftop pool, an outdoor dog run and a "zen garden."
Located on Green Street just a block from the hip Soho House, the new 17-story Gateway development has delivered 167 rentals to the popular West Loop neighborhood. While the building is mostly leased up, available micro apartments are going for $1,600 per month.
Located in the booming West Loop, the new Arkadia Tower is similar to other downtown luxury offerings but offers a variety of floor plans, including studios, one-, two-, and three-bedroom units. The building boasts a large 24,000-square-foot amenity deck that features an outdoor pool and dog run. Studios start at just under $1,800 per month.
The glassy tower block at Jefferson and Jackson is also a newer entry to Chicago's rental scene. Simply dubbed JeffJack, the 15-story building features 190 apartments and an assortment of amenities. The apartments have a raw, almost dorm-like feel to them, and the building features a courtyard area for residents to convene. Studios start around $1,500 per month.
The new North Water Apartments, which occupy the same building as the Loews Hotel, opened just a little over a year ago. Composed of a combination of studios, convertibles, one-, two- and three-bedroom units, the new rental development stands over Streeterville and offers great views of downtown and Lake Michigan. Studios start at just under $1,900 per month.
Located in the condo-filled River North, this new 295-unit development is just over one year old. Expect a plethora of luxury amenities and great views here. Available studios start at $1,740 per month.
The 35-story, 367-unit State & Chestnut is yet another downtown rental tower that came online last summer. In addition to the gym and rooftop deck, the development offers some hotel-like amenities, including maid service, wake up calls and pet care. Available studios start at just under $1,900 per month.
At three years old, 500 LSD is one of the "older" developments on our list, but it still remains of the city's priciest and most luxurious rental towers, and thus worthy of a mention. The 47-story tower is butted up against Lake Shore Drive and offers unobstructed views of Lake Michigan and the downtown skyline. Prepare to cough up some serious cash though, as available studios start at $2,400 per month.
Chicago developers are churning out new apartment projects with luxury amenities at an alarming rate, leaving many pre-recession and recession-era rental developments in the dust. Completed in 2009 as Streeter Place, the 54 story tower at Ohio and McClurg in Streeterville has recently undergone a major overhaul and has taken a new identity as Atwater Apartments. Newly renovated units start around $1,700 for a studio space.
MILA, short for Michigan and Lake, is one of the latest to join the growing crowd of Loop apartment towers. The 41-story tower is delivering 402 luxury rentals to the section of Michigan Avenue between Millennium Park and the Chicago River. Single bedroom apartments lease for between $2,300 to 3,500 a month while corner two-bedrooms units with balconies start around $4,000 and can approach $4,900.
Simply dubbed 1000 South Clark, this new 29-story tower has delivered a whopping 469 rental apartments to the booming South Loop neighborhood. And like other pricey rental towers, there is no shortage of amenities at this building. The high-rise offers up five resident lounges, a rooftop deck, a doggy daycare, and a spa and fitness center with private sports facilities such as basketball and racquetball courts, an indoor pool, and a driving range.
This new mixed-development for Hyde Park is just one of several designs from Studio Gang Architects coming to the South Side neighborhood. The retail portion of the 15-story development is anchored by a 50,000-square-foot Whole Foods while the residential component features 180 apartments. Rents in the recently opened building start at $1,800 per month.
While it may not be the tallest building in Chicago, the new rentals at 858 Franklin are some of the priciest. At the time of opening just a year ago, a one-bedroom unit was in the wide range of $2,300 to $3,200 per month.
The 19-story apartment that stands over the New City mega-development on the edge of Lincoln Park welcomed its first tenants last autumn. While the tower is not located downtown, pricing will be similar to rentals found in the Loop and West Loop. Studios at New City start around $2,000 per month.
The 18-story Xavier Apartments at 625 W. Division Street is one of the latest entries to the growing number of new high-rise rental developments coming online throughout the greater downtown area. However, this 240-unit building is one of the first to open near the former Cabrini-Green. The LEED Gold certified design comes from GREC Architects and the building features 10% affordable units and 10% for the Housing Choice Voucher (HCV) program.
The once sleepy Block 37 shopping center is getting a huge shot in the arm in the form of a 38-story, 694-unit rental tower. In terms of unit count, the project is the biggest to hit the Loop in decades. The building is not yet fully completed but is currently leasing. Studios start at just over $1,900 per month.
Those who are always seeking the latest and greatest will likely swing by Wolf Point West for a tour. The new 48-story rental tower just opened this year and features a whopping 509 apartments. The tower is just one of three planned for the once sleepy Wolf Point site at the confluence of the Chicago River. Apartments start in the $2,000 range for a studio.
This new mixed-use development is yet another major project for the Hyde Park neighborhood. Because of the nature of the project and its location, the development was quite controversial during its proposal and initial approval process. However, the 13-story, 267-unit apartment block is now leasing.
In the last several years, the Fulton Market area has been booming with new development in the form of hotels, restaurants, and office space. However, The Parker, a new 29-story apartment tower, will be delivering 227 apartments to the popular neighborhood. The building will be welcoming its first move-ins in the coming weeks.
:format(webp)/cdn.vox-cdn.com/uploads/chorus_image/image/49700773/Curbed_WolfPoint_NicholasJamesPhoto_29.0.0.JPG)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489154/Screen_20Shot_202015-05-31_20at_209.30.46_20PM.0.0.png)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489155/Screen_20Shot_202015-05-31_20at_209.34.58_20PM.0.0.png)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489156/Screen_20Shot_202015-05-31_20at_209.45.32_20PM.0.0.png)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489157/Screen_20Shot_202015-05-31_20at_209.52.48_20PM.0.0.png)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489158/Screen_20Shot_202015-05-31_20at_209.39.26_20PM.0.0.png)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489159/Screen_20Shot_202015-05-31_20at_209.31.59_20PM.0.0.png)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489160/northwater.0.0.0.jpg)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489161/Screen_20Shot_202015-05-31_20at_209.43.21_20PM.0.0.png)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489162/view-outside-1.0.0.0.jpg)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489163/Screen_20Shot_202015-05-31_20at_209.46.32_20PM.0.0.png)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489164/Screen_20Shot_202015-05-31_20at_2010.01.09_20PM.0.0.png)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489165/15.0828_200NMA_Exterior_Michigan_Ave_View.0.0.0.jpg)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489166/1000-s-clark-3.0.0.0.jpeg)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489167/city-hyde-park-4.0.0.0.jpg)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489168/858NFranklin_print_57.0.0.0.jpg)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489169/newcity-tower.0.0.0.jpg)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489170/Xavier-1.0.0.0.jpg)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489171/block-37-apt-tower.0.0.0.png)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489172/Curbed_WolfPoint_NicholasJamesPhoto_21.0.0.0.jpeg)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489173/vue53.0.0.0.jpeg)
:format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_image/image/62489174/IMG_5154.0.0.0.jpeg)
Loading comments...