Notable Illinois Multi-Family Developers

[2021] Notable Projects from Illinois Multi-Family Developers

If you’re looking for the latest on notable planned construction by Illinois multi-family developers, you’ve come to the right place.

The busiest multi-family developers in Illinois are doing the bulk of their work in and around Chicago. In this article, we highlight some of the most active multi-family developers in the state, as well as a significant planned project that exemplifies each firm’s work. 

A quick glance at these developers’ plans shows that a variety of multi-family projects are in the works. Some projects are entirely new, while others entail renovations or additions. Many look to hold market-rate units, others feature affordable housing, and still others offer luxury or senior living spaces. Additionally, although most of these developers’ planned multi-family construction is set to take place in and around Chicago, multiple upcoming projects are planned for sites across the state.

This list is based on the number of units in planning for multi-family developers in Illinois, per a query of BuildCentral’s MultiFamilyData for projects updated after 9/1/21. 

Interforum Holdings, Inc. 

525 South Wabash Avenue Mixed-Use 

The 525 South Wabash Avenue Mixed-Use project has been approved by the Chicago Planning Commission. While the project does not yet have a general contractor, Interforum Holdings, which is doing business as e-Terra+ Development, has said that they are in talks about general contractor duties with The Walsh Group. The two parties hope to agree to a contract in 2021. 

Geospex screenshot of the 525 South Wabash Avenue Mixed-Use project

Construction Type:  New  # of Units:  777 
Project Type:  For Rent  Building Type:  High-rise (12-40) 
Estimated Value:  $300 million  # of Buildings:  2 
Sector:  Private  Product Type:  Market Rate 
Location:  Chicago, IL 60605. 525 S Wabash Ave (View Map) 
Details:  Plans call for the demolition of a parking structure and the construction a two-building mixed-use development. One building will be 24 stories and have 261 units apartments and 314 hotel rooms. The other building will be 36 stories and have 516 apartments. There will also be 151 parking spaces, a second-floor restaurant, and open-air amenities. 
Stage:  Planning (Active) 
Construction Start:  N/A 
Construction End:  N/A 

 

CA Ventures and K Giles LLC 

Immaculata High School Senior Living Redevelopment 

This project is particularly interesting because it involves the conversion of a high school campus into an apartment building. While the Immaculata High School Senior Living Redevelopment does not yet have a construction schedule, the project is being co-developed by CA Ventures and K Giles LLC. 

Geospex screenshot of Immaculata High School Senior Living Redevelopment project

Construction Type:  New, Renovation, Repurpose/Conversion  # of Units:  495 
Project Type:  For Rent  Building Type:  High-rise (12-40) 
Estimated Value:  $25-$100 million  # of Buildings:  2 
Sector:  Private  Product Type:  Market Rate, Senior (Independent, Assisted, Memory Care) 
Location:  Chicago, IL 60613. 640 W Irving Park Rd (View Map) 
Details:  Plans call for redevelopment of a high school campus, including conversion of the school building into a 275-unit apartment building. The majority of those units will be studios and one-bedrooms. A 23-story building will also rise on the campus and include 128 independent living units, 60 assisted living units and 32 memory care units. A 140-space parking garage will also be built on the site. Amenities will include a fitness center, lounges, a theater and outdoor terraces. 
Stage:  Planning (Active) 
Construction Start:  N/A 
Construction End:  N/A 

 

Lexington Homes 

Lexington Homes Mixed Use Development 

Chicago’s 33rd Ward is currently accepting public feedback about this planned mixed-use development, but Pappageorge Hymes Partners has been selected as the project architect. Lexington Homes has two smaller multi-family developments in planning for Illinois in Palatine and Roselle. 

Geospex screenshot of Lexington Homes Mixed-Use Development project

Construction Type:  New  # of Units:  357 
Project Type:  For Sale, For Rent  Building Type:  Townhome 
Estimated Value:  $25-$100 million  # of Buildings:  N/A 
Sector:  Private  Product Type:  N/A 
Location:  Chicago, IL 60618. 2722 W Addison St (View Map) 
Details:  Plans call for the construction of a mixed-use development with 88 townhomes, a six-story residential building with 269 units and a 3,000-square-foot commercial space. 
Stage:  Planning (Active) 
Construction Start:  N/A 
Construction End:  N/A 

 

Fiduciary Real Estate Development 

Three Oaks Development 

The Crystal Lake Planning Commission has reviewed conceptual plans for the Three Oaks Development, which is co-owned by CL Urban, LLC and CL Party City, LLC. This project is the Milwaukee-based Fiduciary Real Estate Development’s only planned multi-family development in Illinois. 

Geospex screenshot of Three Oaks Development project

Construction Type:  New  # of Units:  > 350 
Project Type:  For Rent  Building Type:  N/A 
Estimated Value:  $25-$100 million  # of Buildings:  10+ 
Sector:  Private  Product Type:  Luxury, Senior (Independent) 
Location:  Crystal Lake, IL 60014. 5561 Northwest Hwy (View Map) 
Details:  Plans call for the redevelopment of a shopping center. There are 4 potential plans for the project that will include up to 251 units of luxury apartments ranging from studio to three-bedroom units across 12 buildings, 20-35 urban-style townhomes, 80-120 unit senior living building, 24,000-62,000-square-feet of retail, restaurants and/or grocery, and a 60-120 room hotel. The 20-unit and 11-unit buildings include units with attached garages. The 30-unit buildings would be corridor buildings with podium parking on the first level. 
Stage:  Planning (Active) 
Construction Start:  N/A 
Construction End:  N/A 

Continental Properties Inc. 

Petkus Property Apartments 

The Saint Charles City Council Planning and Development Committee has reviewed Petkus Property Apartments’ conceptual plans. 

Geospex screenshot of Petkus Property Apartments project

Construction Type:  New  # of Units:  340 
Project Type:  For Rent  Building Type:  Low-rise (1-3) 
Estimated Value:  $25-$100 million  # of Buildings:  17 
Sector:  Private  Product Type:  Market Rate 
Location:  Saint Charles, IL 60174. north of Smith Rd and Pheasant Trl (View Map) 
Details:  Plans call for the construction of 17 two-story buildings with 340 apartments. The unit mix will consist of 34 studios, 136 one-bedrooms, 136 two-bedrooms, and 34 three-bedroom units. Amenities include a 4,630-square-foot clubhouse with a pool and two pet playgrounds. 
Stage:  Planning (Active) 
Construction Start:  N/A 
Construction End:  N/A 

 

City Club Apartments 

City Club Apartments Lakeview 

The City of Chicago Plan Commission has already reviewed CCA Lakeview’s project application. 

Geospex screenshot of City Club Apartments Lakeview project

Construction Type:  New  # of Units:  333 
Project Type:  For Rent  Building Type:  High-rise (12-40) 
Estimated Value:  $25-$100 million  # of Buildings:  N/A 
Sector:  Private  Product Type:  Market Rate 
Location:  Chicago, IL 60613. 3630 N. Lake Shore Dr (View Map) 
Details:  Plans call for the construction of a 19-story and a six-story residential building with the inclusion of green roofs, connected at the base, with 333 residential units, 145 parking spaces, and a 5,000-square-foot restaurant with an outdoor patio at grade. 
Stage:  Planning (Active) 
Construction Start:  N/A 
Construction End:  N/A 

 

Redwood Apartment Neighborhoods 

Central Park Drive Townhomes 

For the Central Park Drive Townhomes, the City of Crystal Lake Zoning and Planning Commission has reviewed preliminary unit development plans. 

Geospex screenshot of Central Park Drive Townhomes project

Construction Type:  New  # of Units:  305 
Project Type:  For Rent  Building Type:  Townhome 
Estimated Value:  $25-$100 million  # of Buildings:  10+ 
Sector:  Private  Product Type:  Market Rate 
Location:  Crystal Lake, IL 60014. Part of 1120 Central Park Dr (View Map) 
Details:  Plans call for construction of a 305-unit residential rental townhome development on 48 acres. The proposed development would consist of pods of ranch townhome style units. The pods would range from four to six attached units. Every unit will have two bedroom, two bathroom, ranch style apartment with two-car attached garages. 
Stage:  Planning (Active) 
Construction Start:  N/A 
Construction End:  N/A 

 

Request a free trial today to learn more about BCI|BuildCentral’s products. Start tracking everything from warehouse and industrial projects to retail, hotel, medical, CRE, multi-family and mixed-use developments across the country.