Chicago, IL Cities Rental Market

Chicago’s 10 Largest Rental Developments in 2015: 3,000 New Units Added

New units completed in Chicago in 2015

Thousands of new apartments hit Chicago’s rental market in 2015. To be more precise, 18 multifamily properties of 50+ units were completed last year, adding around 3,500 new apartments to the Windy City’s rental inventory, down 12.5% compared to 2014, when 4,000 rental units came online.

What do the best of them have in common? They strive for new heights in top locations and embrace luxury as a way of living. High-rise towers – like Arkadia Tower, Jones Chicago, North Water, and many more – compete in luxurious units and upscale community amenities that appeal to exclusive tastes.

To get a better grasp of what 2015 delivered in terms of new rentals, we’ve turned to Yardi Matrix to see which were Chicago’s largest rental developments – by number of units. Here are the top 10 developments around town that sum up no less than 3,000 units:

#10. Gateway West Loop: 167 rental units

Gateway West Loop Apartments in Chicago

Gateway West Loop Chicago

Completed: 9/15/2015

Address: 11 South Green St, Greektown, Chicago, IL 60607
Rental types: 36 studios, 83 one-bedroom apartments, 46 two-bedroom apartments
Property size: 129,309 sq.ft., 12- and 13-story tower over retail (5,000 sq.ft.) and 3 parking levels
Short description: Green building, LEED-proposed. 100% smoke-free environment. Rooftop pool, sundeck, fireside retreat, and BBQ area with incredible city and sunset views. Sky lounge with large-screen TVs. Fitness studio. Complimentary coffee center with Starbucks coffee. WiFi in amenity areas. 24-hr. front desk and concierge service. 95 covered parking spaces available for an extra $225/mo.
Photo credits: Gateway West Loop Official Website and Facebook Page

#9. Jones Chicago: 188 rental units

Jones Chicago Apartments for rent

Jones Chicago apartments

Completed: 3/9/2015

Address: 220 West Illinois St, River North, Chicago, IL 60654
Rental types: 18 studios, 96 one-bedroom apartments, 74 two-bedroom apartments
Property size: 167,256 sq.ft., 24-story tower. First floor retail and leasing and floors 2-6 parking
Short description: LEED certified Gold. Rooftop lounge with spectacular views of Chicago River, Downtown, and Lake Michigan. Chef’s kitchen, pool table, and TV area. Outdoor terrace and sun deck with pool, cabanas, fire pit, and barbecues. Covered dog run, dog washing stations. Floor-to-ceiling glass windows. Nest learning thermostats. 176 covered or garage parking available for an extra $265/mo.
Photo credits: Jones Chicago Official Website

#8. JeffJack Apartments: 190 rental units

JeffJack Apartments in Chicago

JeffJack Apartments for rent in Chicago

Completed: 4/22/2015

Address: 601 West Jackson Blvd, West Loop Gate, Chicago, IL 60661
Rental types: 45 studios, 106 one-bedroom apartments, 35 two-bedroom apartments, 4 penthouses
Property size: 136,493 sq.ft., 15-story tower over retail and two levels of parking
Short description: Green building, LEED-proposed certified Silver. Open smart floor plans, floor-to-ceiling windows. Modern finishes, exposed concrete ceilings. Vinyl hardwood plank flooring in living and kitchen areas. Secure keyless apartments entry system. 100% smoke-free environment. Private terrace dining. Outdoor sundeck. Private dog run. 285 covered parking spaces available for an extra $235/mo.
Photo credits: JeffJack Apartments Facebook Page

#7. The Residences at NewCity: 199 rental units

The Residences at NewCity in Chicago

The Residences at NewCity for rent in Chicago

Completed: 3/11/2015

Address: 1457 North Halsted St, Goose Island, Chicago, IL 60642
Rental types: 19 studios, 139 one-bedroom apartments, 41 two-bedroom apartments
Property size: 172,440 sq.ft., 15-story tower over retail (31,000 sq.ft.) and 3 levels of parking
Short description: 24-hr. door attendant. Conference room. Cyber café. Outdoor grilling area and lounge with fire pit. Dog run. Pool and spa. Theater room featuring 90” screen. 24-hr fitness room. Private balconies. GE Energy Star efficient Clean Steel appliances. 275 covered parking spaces available for an extra $250/mo.
Photo credits: The Residences at NewCity Facebook Page

#6. The Madison at Racine: 216 rental units Check availability

The Madison at Racine Chicago

The Madison at Racine apartments for rent in Chicago

Completed: 3/11/2015

Address: 1164 West Madison St, Near West Side, Chicago, IL 60607
Rental types: 8 studios, 152 one-bedroom apartments, 56 two-bedroom apartments
Property size: 181,954 sq.ft., 7 and 8 stories over parking and retail (10,000 sq.ft.)
Short description: Green Building – LEED – proposed. Pet-friendly homes. 9-ft. ceilings. Open floor plans. Private balconies and panoramic city views. Landscaped outdoor rooftop sun deck with pool, hot tub, fire pit, lounge areas, and amazing city views. Social-friendly Rooftop Club Room with billiards, large flat screen TVs, catering kitchen, bar, city views and sliding glass doors opening to the rooftop terrace. Fitness center. Dog grooming area. 227 covered or garage parking spaces available for an extra $225/mo.
Photo credits: The Madison at Racine Facebook Page

#5. Eight O Five: 292 rental units

Eight O Five Chicago

Eight O Five apartments for rent in Chicago

Completed: 10/20/2015

Address: 805 North LaSalle Drive, Near North Side, Chicago, IL 60610
Rental types: 83 studios, 198 one-bedroom apartments, 3 two-bedroom apartments, 8 penthouses
Property size: 199,668 sq.ft.,  4-story and 34-story, includes parking and retail (4,000 sq.ft.)
Short description: 24-hr. doormen. 33rd floor rooftop pool, sundeck, and firepit. ZIP cars in the parking garage. Skyline views. 9-ft. ceilings. Floor to ceiling windows. Spacious balconies and terraces. Hardwood laminate floors. Club 805, a 8,000 sq.ft. 3rd-floor amenity area, including library, fireplaces, yoga room, TV lounge, fitness center, and more. 108 covered parking spaces available for an extra $275/mo.
Photo credits: Eight O Five Official Website

#4. Arkadia Tower: 350 rental units

Arkadia Tower Chicago

Arkadia Tower apartments for rent in Chicago

Completed: 3/11/2015

Address: 765 West Adams St, Greektown, Chicago, IL 60607
Rental types: 80 studios, 211 one-bedroom apartments, 53 two-bedroom apartments, 6 penthouses
Property size: 263,469 sq.ft., 32-story tower
Short description: Green Building – LEED – Certified Silver. 360-degree views of Chicago. 24,000 sq.ft. rooftop pool deck. 19 floorplans to choose from. 24-hr. concierge. Fitness center with outdoor yoga studio, resident lounge with a separate party and game room, and technology lounge. 100% smoke free environment. Private dog run and grooming station. Resident party room with chef’s kitchen. 356 covered or garage parking spaces available for an extra $225/mo .
Photo credits: Arkadia Tower Official Website

#3. State and Chestnut: 367 rental units

State and Chestnut Chicago

State and Chestnut apartments for rent in Chicago

Completed: 9/23/2015

Address: 845 North State St, Gold Coast, Chicago, IL 60610
Rental types: 59 studios, 243 one-bedroom apartments, 65 two-bedroom apartments
Property size: 263,509 sq.ft., 30-story tower over retail (3,200 sq.ft.) and 4 levels of parking
Short description: Green Building – LEED – Certified Silver. Dual-pane glass. Views of Downtown Chicago. Rooftop pool. 185 covered parking spaces available for an extra $250-500/mo.
Photo credits: State and Chestnut Facebook Page

#2. AMLI Lofts: 398 rental units

AMLI Lofts Chicago

AMLI Lofts for rent in Chicago

Completed: 2/27/2015

Address: 850 South Clark Street, South Loop, Chicago, IL 60605
Rental types: 1 studio, 255 one-bedroom apartments, 141 two-bedroom apartments, 1 guest suite
Property size: 324,606 sq.ft., 2 11-story buildings with 5,000 sq.ft. ground floor retail area.
Short description: Green Building – LEED – Proposed Certified Silver. Full-service fitness center with private studio for yoga or fitness class on demand. 24-hour lounge with fireplace, TVs, billiards, and football table. Pool and BBQ area. Rooftop sundecks in each building. Sport court and multi-purpose green space. Dog park, dog wash. Electric car charging stations. Smoke-free community inside and out. Scenic city views. 280 covered parking spaces available for an extra $280-350/mo.
Photo credits: AMLI Lofts Facebook Page

#1. North Water Apartments: 398 rental units

North Water Apartments Chicago

North Water Apartments for rent in Chicago

Completed: 5/21/2015

Address: 340 East North Water St, Streeterville, Chicago, IL 60611
Rental types: 30 studios, 235 one-bedroom apartments, 124 two-bedroom apartments, 9 three-bedroom apartments
Property size: 361,908 sq.ft., 36-story tower over 14 floors of hotel (400-room Loews Hotel, restaurants, and bars)
Short description: 24-hr. fitness gym. Restaurant, bar and lounges. 24-hr concierge. Bike room. Rooftop sky lounge and terrace with catering kitchen and surround sound media. Non-smoking community. Business center with conference room. Media wall with fireplace. Pet spa. Heated pool. 230 covered or garage parking spaces available for an extra $275/mo.
Photo credits: North Water Apartments Official Website

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About the author

Nicoleta Iudean

Online content developer Nicky Iudean loves writing about real estate, interior design, and lifestyle topics for RENTCafé. She gets inspiration for a healthier and happier way of living from her 4-year old son. You can reach Nicoleta by email or Twitter.

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