Illinois

CHICAGO — Lendlease and Magellan Development Group have begun pre-leasing at Cascade, a 37-story, 503-unit luxury apartment tower in Chicago’s Lakeshore East neighborhood. First move-ins are expected this summer, coinciding with the opening of the adjacent Cascade Park, a publicly accessible green space that will connect the property to the lakefront and Chicago Riverwalk. Floor plans will range from 509 to 1,332 square feet. Monthly rents for studios will start at $1,650, $2,050 for one-bedrooms, $3,300 for two-bedrooms and $5,750 for three-bedrooms. Cascade will offer more than 45,000 square feet of indoor and outdoor amenity space across three levels. The building’s 32nd floor features a terrace overlooking Navy Pier and Lake Michigan. The design team includes bKL Architecture for the tower and Claude Cormier + Associés for the park. Cascade residents who plan to transition into homeownership can take advantage of a program that enables them to sign a contract for a condo at Cirrus, the adjacent 47-story, 350-unit condominium tower. Half of the rent paid (up to 2.5 percent of the purchase price) can be recouped as a credit at closing.

CHICAGO — Draper and Kramer Inc. has topped off a 120-unit multifamily project located at 949 W. Dakin St. in Chicago’s Wrigleyville neighborhood. The developer has named the project Wrigleyville Lofts, as it is situated 2.5 blocks north of Wrigley Field. Draper and Kramer plans to begin pre-leasing this summer for fall 2021 move-ins. The project includes 108 one-bedroom units and 12 two-bedroom units, as well as 14,000 square feet of ground-floor retail space. Lakeview Ace Hardware, which occupied the single-story structure previously on the site, will return to anchor the corner commercial space. Lakeview Ace is also a minority partner in the development. Amenities will include a rooftop deck, meeting areas, a coffee shop, clubroom, fitness center and private parking garage. Rents will start at roughly $1,900 per month. The Chicago regional office of HUD financed the project, with Gershman Mortgage acting as the HUD lender. Leopardo Construction is the general contractor and Sullivan, Goulette & Wilson Architects is the architect.