Like a pan full of Jiffy Pop, the hot real estate market is making things pop in Old Town. The neighborhood, long popular with people who want to live near downtown Chicago, but still have that “neighborhoody” feel, is becoming pockmarked with new developments bringing even more people to its quiet, tree-lined streets.
The latest to break ground is 1325 North Wells, a seven-story residential block designed and being built by Sedgwick Properties. When completed in 2017, it will have 60 new apartments ranging from 600 to 1,400 square feet.
For more details, see the press release below the rendering.
Sedgwick Properties Breaks Ground on 60 Luxury Apartments at 1325 N. Wells Street in Chicago’s Old Town Neighborhood
CHICAGO (March 30, 2016) – Developer Sedgwick Properties has broken ground on a 60-unit luxury apartment building in Chicago’s Old Town neighborhood, expected to deliver in the spring of 2017.
Located at 1325 N. Wells St., the seven-story building will offer a mix of one-, two-, and three-bedroom luxury apartment rentals, with individual units ranging from 601 to 1,400 square feet.
“With a highly sought-after location in the heart of Old Town, 1325 N. Wells St. will offer residents a strong, vibrant Chicago neighborhood just steps from some of the city’s most popular dining, nightlife and recreational attractions, along with easy access to the Loop and Chicago’s central business district,” said Marty Paris, president of Sedgwick Properties. “For those seeking the active, urban lifestyle the Near North Side offers, this building will truly provide residents the best of both worlds. Old Town is one of Chicago’s most established neighborhoods, making it a highly desirable location for residents seeking new luxury development.”
Unit finishes will include custom cabinetry, quartz countertops, tile backsplashes, stainless steel appliances, plank flooring in living areas and bedrooms, in-unit washer and dryers, and expansive private balconies. Certain units also feature large private terraces.
Planned building amenities include a grand rooftop plaza complete with a wading pool and terrace, outdoor kitchen, fire pit and seating area. Other amenities include a fitness center; community room with a demonstration kitchen; Pressbox valet dry cleaning service; bicycle storage, secure heated parking, and spectacular views of the city and lakefront. The development will also include approximately 1,800 square feet of ground floor retail space.
“With top-of-the-line unit finishes and a host of amenities, 1325 N. Wells St. will bring a unique opportunity for luxury multifamily living to one of Chicago’s most venerable neighborhoods,” said Paris. “With such a robust amenity offering for a building of this size, 1325 combines luxury, comfort and convenience in a boutique-style setting like no other building in Old Town currently does.”
Conveniently located in Chicago’s Old Town neighborhood, 1325 N. Wells St. is in proximity to popular dining and nightlife destinations, as well as nearby parks and grocery stores, and just a few blocks from the city’s lakefront. The community is served by several CTA buses, and just a short walk to the CTA Clark/Division Red Line and Sedgwick Brown Line stations, offering convenient access to the Loop.
An expert in multifamily development, Sedgwick Properties is very active on Chicago’s Near North Side with several luxury apartment and condo developments currently underway, including 1545 W. North Ave, 301 W. North Ave and the recently completed 1611 N. Hermitage. As with all of their projects, Sedgwick Properties and its affiliates will serve as the architect, designer, developer and general contractor for 1325 N. Wells St.
About Sedgwick Properties
Founded in 1996, Sedgwick Properties Development Corporation, one of Chicago’s premier development companies, is a full-service real estate company specializing in both residential and commercial development, with a particular focus on the multifamily and commercial market. Sedgwick Properties’ in-house team of architects, developers and construction engineers, brings a unique perspective to each project, from inception to completion. To learn more, visit www.sedgwickproperties.com.