850 Lake Shore Drive Nears 90-Percent Leased Mark

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New luxury apartment development leased by @properties anticipates full occupancy by end of year

Apartment residence at 850 Lake Shore Drive

Apartment residence at 850 Lake Shore Drive

While the building is almost fully-leased, people still have a variety of views and layouts to choose from since we have so many unique floor plans. We anticipate we’ll be fully leased by the end of the year.

Chicago-based Integrated Development Group LLC (IDG) and Washington, DC-based National Real Estate Advisors LLC, announced that 850 Lake Shore Drive, the transformation of the historic Lake Shore Athletic Club to luxury apartments, is approaching full occupancy with nearly 90 percent of the building’s 198 apartments now leased.

Located on the corner of Lake Shore Drive and Chestnut Street in Streeterville, the luxury apartment community features studio, one-, two- and three-bedroom floor plans ranging from 772 to 3,794 square feet, and rents starting at $2,890 per month.

All residences boast upscale features including hardwood flooring, Bosch stainless steel appliances, Brookhaven by Wood-Mode cabinetry, granite countertops, in-unit washer and dryer, and marble and porcelain baths. Many units also feature views of Lake Michigan.

“While the building is almost fully-leased, people still have a variety of views and layouts to choose from since we have so many unique floor plans,” said Matthew Phillips, CEO and president of Integrated Development Group LLC. “We anticipate we’ll be fully leased by the end of the year.”

Currently available apartments include:

  •     A 3-bedroom, 2.5-bath duplex with 3,249 square feet, renting for $10,000 per month
  •     A 2-bedroom, 2-bath apartment with 1,256 square feet, renting for $4,240 per month
  •     A 1-bedroom, 1-bath floor plan with 1,031 square feet, renting for $3,190 per month
  •     A 1-bedroom-plus-den, 1-bath apartment with 1,059 square feet, renting for $2,890 per month

“While there is no shortage of luxury apartments in the city today, people have found that 850 Lake Shore Drive offers something entirely different,” said Kathleen Ullo of @properties, exclusive leasing agent for 850 Lake Shore Drive. “The combination of restored, classic architecture, modern amenities, large floor plans and incredible views doesn’t exist in any other apartment building in Chicago.”

850 Lake Shore Drive offers an assortment of high-end amenities, including a 24-hour doorman; indoor swimming pool and whirlpool spa; 3,500-square-foot White Room lounge with seating areas, bar, billiards table and flat screen TVs; fitness center; dog run, rooftop deck with gas grills; indoor parking; business center; and bicycle storage.

Located where the Gold Coast meets Streeterville, 850 Lake Shore Drive also provides direct access to the lakefront, nearby parks including Lake Shore Park, cultural attractions, and upscale shops and restaurants along Chicago’s Magnificent Mile.

850 Lake Shore Drive is managed by Seneca Real Estate Advisors, with leasing provided by @properties. A leasing center and decorated models are open from 10 a.m. to 6 p.m. Monday through Friday and 12 p.m. to 5 p.m. on weekends. For more information, visit http://www.850lsd.com or call 312.915.0850.

About Integrated Development Group LLC:
Integrated Development Group LLC (IDG) is a Chicago-based real estate development firm with more than 25 years of combined experience in luxury multi-family communities. The firm’s mission is to create innovative and extraordinary residential communities offering the highest quality service.

About National Real Estate Advisors LLC:
National Real Estate Advisors has $2.5 billion in net assets under management invested in commercial and multifamily real estate valued at $7.0 billion (as of 6/30/15).Through its open-end fund and separate account for pension fund clients, the company invests in major U.S. urban markets, using a build-to-core strategy in large-scale development and redevelopment projects. National builds investment portfolios of stabilized modern property assets—apartment, office, mixed-use, industrial, data centers and hotels—with design features, technological enhancements, and amenities that can drive high tenant demand and create value over time. Utilizing its wholly-owned affiliate, National Real Estate Development LLC, the company also directly develops major projects for client accounts and partners. The firm is a subsidiary of the National Electrical Benefit Fund. For more information visit, http://www.natadvisors.com.

About @properties:
Established in 2000, @properties is the No. 1 independent residential brokerage firm in the Chicagoland area and one of the top 12 residential brokers in the U.S. by sales volume @properties has divisions for residential and commercial brokerage; new-construction sales, leasing and marketing; property management and bank advisory services. For more information, visit http://www.atproperties.com.

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Peter Olesker
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