While apartments have accounted for virtually all of the new residential deliveries in downtown Chicago since the recession, developers are growing increasingly optimistic about the city’s resurgent condo market. As Curt Bailey, president of Taylor Johnson client Related Midwest, discussed during his recent keynote at the Marcus & Millichap/IPA Multifamily Forum, Chicago is witnessing the return of high-rise condominium development as buyers at both ends of the age spectrum — young families and empty nesters — look to establish more permanent roots in the downtown core. Rather than viewing new residential development as an “either/or,” Related Midwest is banking on growth in both the luxury for-sale and rental sectors with projects like One Bennett Park, a 70-story tower in Streeterville that will include a mix of 69 ultra-high-end condos and 279 apartments, and Landmark West Loop, a 30-story rental tower near the Illinois Medical District. Read more about each project and Bailey’s broader views on the market in Multi-Housing News and Chicago Agent.

The ultra-luxury condominiums at One Bennett Park will feature large, light-filled great rooms at the center of each home