Multifamily

CHICAGO — Lendlease has opened The Reed at Southbank, a 41-story residential tower located at 234 W. Polk St. in Chicago’s South Loop. The Reed includes both rental units and for-sale homes and is part of Lendlease’s seven-acre Southbank master plan. Of the property’s 440 residences, 224 are apartments and are located on floors nine through 22. Units range from 544 to 1,417 square feet and monthly rents start at $2,205. Inspired by the literary history of Printers Row, the development’s name is a nod to both reed pens and the grasses that grow along waterways like the Chicago River. Perkins & Will designed the property. The Reed is situated near Southbank Park, a two-acre green space developed and maintained by Lendlease as an amenity for both residents and neighbors in the surrounding community. The eighth floor features a 15,000-square-foot amenity deck with a pool, lawn, fire pits, outdoor kitchens and fitness area. Indoor amenities include a fitness center, lounge room, pool table, virtual sports room, massage room and salon. Apartments at The Reed will be managed by Bozzuto, which will provide renters with services like plant care, pet care, newspaper delivery and in-home package delivery. The Reed is the …

CHICAGO — General contractor Bulley & Andrews has completed a renovation of The Belden-Stratford, a luxury apartment building in Chicago’s Lincoln Park neighborhood. Overlooking the Lincoln Park Zoo and Conservatory, the 16-story property was originally constructed in 1923 and is listed on the National Register of Historic Places. Designed by architect Meyer Fridstein, the building originally opened as a residential hotel before being converted to apartments. Mansueto Office, the investment firm of Joe Mansueto, who was a resident of the property during the 1980s, purchased the asset in 2018. Renovation work began in late 2020. Today, the property comprises 209 luxury apartment units, including studios, one-, two- and three-bedroom floor plans as well as a selection of penthouses. Monthly rents range from $2,500 to $15,000. Leasing and move-ins are underway. Solomon Cordwell Buenz served as the architect for the renovation project, along with historic architect Vinci Hamp Architects. Waterton manages the property. The team restored many of the original architectural details of the property and added new amenities, including a mezzanine-level lounge, fitness center, billiards and media lounge, wine tasting room, conference rooms, meeting space and a rooftop deck. Residents also have access to services such as valet parking, concierge …