Another 7,000 apartments expected in downtown Chicago within 2 years
22 February 2018
“After setting a record for apartment construction in 2017, downtown Chicago will take a breather — but not for long…
“We think the market was ripe,” said Jerry Karlik, a principal at New York-based JK Equities, one of the tower’s developers.
“With rental prices hitting $4 per square foot in luxury buildings, we think it’s the right market for a premier condo building,” Karlik said. “It’s an underserved area, and there hasn’t been much built since the last (real estate) cycle.””
Read the full story on the Chicago Tribune’s website.