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JUPITER BREAKS GROUND FOR 50-STORY APARTMENT TOWER

CHICAGO — Chicago-based Jupiter Realty Group has broken ground for the construction of a 50-story apartment tower located at 215 W. Washington St. in Chicago’s West Loop. The $157 million project will feature 389 studio, one- and two-bedroom units ranging in size from 550 to 1,850 square feet. All units feature floor-to-ceiling windows, washers and dryers, and kitchens with hardwood floors, granite countertops and stainless steel appliances. Building amenities will include a landscaped rooftop pool and garden area, a fitness center, steam and massage therapy rooms, a library, a business center, a 24-hour doorman and a 12-story, 600-space parking garage. First occupancies are expected in spring 2010, with the remaining units coming online in the summer. Upon completion, the project is expected to be the first LEED-certified high-rise apartment building in the city. Cornerstone Real Estate Advisors, a subsidiary of Mass Mutual Life Insurance Co., is Jupiter’s joint venture partner in the project. Power Construction is serving as general contractor, and Chicago-based Solomon Cordwell Buenz is the project architect. The parking garage will be owned by Interpark, a subsidiary of General Electric. Jupiter Communities, the company’s third-party management division, will handle leasing and management duties.

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