|Part of Uptown's changing|
skyline, 811 Uptown, 01/01/18
"What's one 'hot' Chicago neighborhood you're working in currently?
Elizabeth Gagliardi, Senior Vice President, Jones Lang LaSalle: Neighborhoods on the North Side are seeing a redevelopment boom, most notably Uptown. It's got transit accessibility—including the enhanced Wilson Red Line L stop—proximity to Lake Michigan and a complementary mix of independent and large national retail, which retains the area's unique neighborhood character while offering access to convenient necessities.
A perfect example of the Uptown boom is The Draper at 5050 N. Broadway, a new conversion project from Cedar Street Companies that will feature attainable rental prices, smaller units and elevated amenities in an attractive, vibrant atmosphere. We're also expecting continued growth in River North and River West, especially with the relief of the city's planned manufacturing district spurring a redevelopment plan of nearly 600 acres of land there.
Morris Gershengorin, President, Real Restoration Group: We're also working in Uptown as both owners and contractors on multiple multifamily projects, and have seen a huge spike in demand for updated units. There's a great sense of community that we take to heart when formulating plans for development there. We believe demand will only keep growing as companies continue to move their headquarters to urban areas rather than suburban locations."