Chicago-based The Habitat Company, a leading U.S. multifamily property developer and manager, has been awarded the property management and leasing contracts for two luxury rental apartment communities totaling 444 units in Chicago and Evanston, Ill. Habitat has already assumed management of The Reserve at Evanston, a four-story building near downtown Evanston comprised of 193 residences, and pre-leasing is available for 640 North Wells, a new rental tower of 250 residences in Chicago’s thriving River North neighborhood.
“For 46 years, residents have come to expect excellence when living in a building managed by The Habitat Company and we’re pleased to provide the same high level of customer service to these two communities,” said Matt Fiascone, president of The Habitat Company. “Chicago is a heated rental market with 15 new buildings set to deliver downtown this year. To attract residents, owners and developers need to offer the best living experience possible, which starts with the leasing process and carries through with management. We’re honored to be the team that will help these two buildings stand out from the rest through our award-winning services.”
When it opened in 2009, The Reserve at Evanston at 1930 Ridge Ave. was ahead of its time with stylish interiors and a full suite of amenities. But due to an influx of new apartment buildings in the area, the building’s owners knew the property needed to be refreshed to stay competitive. In addition to assuming the management and leasing at The Reserve at Evanston, Habitat will also consult on repositioning the asset.
Enhancements are planned for the apartments, which consist of one-, two-, and three-bedroom residences, and the amenity spaces are also poised for an upgrade. Currently, residents can enjoy community amenities such as a cyber cafe, fitness center, poolside gas grills and complimentary coffee bar. The community is conveniently located near restaurants, shopping, Northwestern University and Lake Michigan’s waterfront.
Set for delivery this July, 640 North Wells will offer convertibles, one- and two-bedroom residences. This new property marks the second partnership between Habitat and JDL Development in less than 12 months. Last year, Habitat helped JDL deliver 1000 South Clark, a 469-unit luxury apartment tower in Chicago’s South Loop neighborhood. Top-of-the-line amenities at 640 North Wells will include a rooftop swimming pool, fitness center, open air terraces and lounges, billiards lounge, a decked-out demonstration kitchen for gatherings and a golf simulator. Interiors will feature plank flooring, stainless steel appliances, glass finishes and sweeping city vistas.
“Because Habitat has had its finger on the rental pulse of the Chicago region for decades, we bring an unsurpassed industry knowledge and expertise to every project, so owners appreciate that there’s no learning curve when it comes to meeting the needs of residents,” said Sheila Byrne, Habitat’s executive vice president of property management. “It’s also a win for renters when we work on a building where we can leverage an existing relationship with the owner, such as JDL, as there’s more familiarity with staffing and building operations, which means everything is more streamlined.”
For more information about Habitat’s property management capabilities, visit www.habitat.com.
About The Habitat Company
Founded in 1971, The Habitat Company is a full-service residential real estate company specializing in property management, acquisitions and development. One of the largest residential property developers and managers in the United States, with over $3 billion in assets and more than 22,000 units under management across five states, the company’s portfolio spans a range of property types, from mid- and high-rise condominium, apartment and adaptive reuse developments to senior and affordable housing communities. Headquartered in Chicago, with more than 800 employees throughout the United States, Habitat is dedicated to improving the communities it serves through innovation and a commitment to excellence. For more information, visit www.habitat.com.
When it opens in July, 640 North Wells in Chicago’s River North neighborhood will be managed by The Habitat Company, a leading Chicago-based U.S. multifamily property developer and manager.
Chicago-based The Habitat Company, a leading U.S. multifamily property developer and manager, has added The Reserve at Evanston, 1930 Ridge Ave. to its market rate property management portfolio