This Joint Venture with Wildwood Investments/Contemporary Concepts for Phase I – a ground up construction of 53 apartments.

In the beginning of 2021, Crosstown Real Estate Advisors, LLC partnered with Wildwood Investments and Contemporary Concepts Inc of Chicago to purchase land and build two multi-family projects in the Lakeview neighborhood of Chicago.  The Lakeview apartment market has performed well throughout the past ten years and throughout the Covid-19 pandemic.  Lakeview has benefitted from the migration of high rises in River North/Gold Coast/Streeterville and Loop markets.  Low density apartments in Lakeview are expected to continue to benefit from the desire of tenants to move out of high-rises and away from the downtown markets.  Lakeview is known as one of Chicago’s most desirable and valuable sub-markets with an employment rate within 1 mile of 99% and an average household income of $193K.

“Low-Line Commons”, 3415-25 North Ashland, Chicago, IL (projected delivery Fall 2022)

This project required the purchase of an existing industrial building, a rezoning of the land from commercial to multi-family, demolition and environmental remediation of the existing structure and the construction of a 53-unit apartment building.  The unit mix consists of 16 studios, 10 one-bedroom and 27 two-bedroom units.  This includes five affordable units.  The units have an average size of 692 square feet and the construction also includes providing 16 parking spaces.  Transit amenities include the Paulina Brown Line stop one block west and the Southport Brown Line station two blocks east.  There are dozens of restaurants and big box retailers Whole Foods and Target within one block of the site.