M&R Development today announced the groundbreaking of The Residences at Hamilton Lakes, a 297-unit luxury rental community immediately adjacent to the Hamilton Lakes Business Park in Itasca, Ill. The community, which is a joint venture between M&R Development, Itasca-based Hamilton Partners and Chicago-based Murphy O’Brien LLC, is expected to be completed in spring 2017.
Bordered by Prospect Avenue on the east, Arlington Heights Road on the west and Thorndale Avenue on the south, the 10.7-acre community will be the first luxury rental property developed in the immediate vicinity of Hamilton Lakes Business Park, which includes over 3 million square feet of office space, as well as restaurants and two hotels.
“We are thrilled to celebrate the groundbreaking of the first residential community of its kind in Itasca in more than 20 years,” said Anthony Rossi Sr., president of M&R Development. “The Residences of Hamilton Lakes will meet the pent-up demand from the renter-by-choice segment interested in luxury housing with proximity to so many suburban employment centers.”
M&R Development and its partners on the project were joined by officials from the Village of Itasca at a ceremonial groundbreaking held at the site on May 24.
“Itasca is a fabulous place to work, live and play,” said Ron Lunt, founding partner of Hamilton Partners, which oversees leasing and management for the Hamilton Lakes Business Park, an icon of Itasca since 1979. “Hamilton Lakes is well-established as a corporate office campus and, with the addition of The Residences at Hamilton Lakes, we now offer a total mixed-use package of office, hotel, retail and residential.”
The community will include three four-story buildings offering a mix of studio, one-, two- and three-bedroom floor plans, along with over 7,500 square feet of resort-style amenities, a hallmark of M&R Development’s properties. Housed in a centrally located clubhouse, the amenities at The Residences of Hamilton Lakes will include an outdoor pool, media room, fully equipped gym, business center and event space, as well as a spa, sauna and steam room. Additional amenities include a pet spa, yoga/pilates studio, and a bike repair/storage area.
“Today’s renters want high-end amenities and finishes found in many downtown developments, but not everyone wants to live in a downtown high-rise,” said Rossi. “This community fills a niche in the market, bringing that same luxurious metropolitan lifestyle to the west suburbs. Residents will be able to spend less time commuting and more time enjoying all of the amenities the community and Village of Itasca have to offer.”
Each unit will be well-appointed with high-end features and finishes such as 9-foot ceilings, quartz countertops and hardwood floors in the kitchen and living areas. Kitchens at the Residences of Hamilton Lakes will be outfitted with stainless steel Energy Star® dishwasher, self-cleaning oven and frost-free refrigerator with automatic ice maker. All units will include spacious walk-in closets and select residences will feature double-bowl vanities in the master bath and a computer niche.
“This property is convenient not only for those working in Hamilton Lakes but also nearby suburbs like Schaumburg and Hoffman Estates,” said Rossi. “We incorporated a variety of floor plans to fit different needs. In fact, since announcing this development earlier this year, we have added a three-bedroom option for young families and empty nesters who want to downsize, but still have plenty of space for guests.”
The Residences at Hamilton Lakes offers convenient access to Interstates 290 and 355 and is a five-minute drive from the Itasca Metra station, which offers rail service to downtown Chicago. The community is also minutes from popular shopping, dining and entertainment destinations, including Woodfield Mall, located 5 miles north of the property. Residents will also have access to numerous recreational amenities in the area, such as the Salt Creek County Forest Preserve; Busse Woods and several golf courses, including the Medinah and Itasca country clubs.
For more information about The Residences at Hamilton Lakes, visit www.mandrdevelopment.com.
About M&R Development
Founded in 1996 by Tom Moran and Anthony Rossi, M&R Development is a developer of luxury, high-end rental apartment buildings ranging in style from garden and mid-rise to urban high-rise. Over the past twenty years, the company has developed fourteen properties with over 3,755 units in greater Chicago.
M&R Development has broken ground on The Residences at Hamilton Lakes, a 297-unit luxury rental community adjacent to the Hamilton Lakes Business Park in Itasca, Ill. Pictured at the May 24 groundbreaking ceremony are the M&R Development executive team, project partners and officials from the Village of Itasca.