The competitive luxury rental market has had developers thinking differently about one of the most coveted places in a high-rise building — the penthouse. Traditionally dedicated to a limited number of units, penthouse-level access is now being given to more residents as developers create communal amenities in their buildings’ highest spaces. When we shared this trend with media, a reporter from Forbes.com took an interest and we were able to provide several examples from Taylor Johnson clients M&R Development, Fifield Cos., F&F Realty, Optima, Inc. and CA Ventures, as well as broker insight from client Downtown Apartment Company. Read more here about the top-floor amenities at 73 E. Lake, 727 West Madison, Optima Signature and Eleven 40.

The Sky Lounge at 727 West Madison, from co-developers F&F Realty and Fifield Cos., is one example of how developers are dedicating penthouse space to communal amenities.