1000 South Clark
RL Accelerated lead the lease-up at 1000 South Clark, which is a 469 unit building in the South Loop. The property has over 43,000 square feet of amenity space ranging from a rooftop deck with breathtaking Lake views, a racquetball and basketball court, a 10,000 square foot health club, an indoor/outdoor pool, a 25,000 square foot terrace equipped with outdoor TVs and grills, and much more. The property opened up for occupancy in February of 2016 and RL lead the building to stabilization by January of 2017.
- Higher Rents: Achieved rents 9% over projected proforma.
- Faster Lease-Up: The lease up was completed in 11.5 months, adding an additional 3 months of rental revenue over industry standard.
- Reduced Broker Commissions: Reduced outside broker involvement to 24% (as compared to 50%+ industry standard).
- Fewer Concessions: Our expert leasing team provided ongoing strategies designed to maximize unit pricing, minimize rental concessions, and improve overall NOI while implementing marketing strategies to bring more qualified traffic and lease apartments faster than the competition.
1000 South Clark In the news:
- Crain's - Developers score big payout in South Loop apartment deal
- "The building is about 75 percent leased, he said. JDL and iStar originally forecast it would take 16 months to lease it up, but they now expect that to happen in 11 months."
640 North Wells
RL Accelerated started the lease up at 640 North Wells in Spring of 2017. The 250 unit building is in the heart of the River North neighborhood. The property possesses ample amenities including a Billiards Lounge, Restaurant Demonstration Kitchen, Club Lounge and Parlor, Golf Simulator, Rooftop Swimming Pool, Pro-Grade Fitness Center, and more.
Two West Delaware
RL Accelerated added Two West Delaware to its portfolio in the summer of 2017. Two West Delaware is a 189 unit development, 150 of which are rental. Two West Delaware is centered in the heart of Chicago’s most prestigious neighborhood, the Gold Coast. Neighbors include 5-star hotels such as the Waldorf Astoria, world class restaurants on Rush Street and high-end shopping destinations along Oak Street and Michigan Avenue.
The RL team helped keep leasing strong during the condo vs. rental debate.
Wave Chicago, located at 420 W. Belmont, was added to the RL portfolio in early 2018. This 207-unit former condo building is undergoing major renovations as it makes its grand re-entry into the market as luxury apartments.
The building features on site parking, a 30th-floor indoor pool, resident lounge and sun deck. Renovations will add a fitness room and yoga studio and Pressbox dry cleaning service.
The RL team was engaged to take on the leasing and marketing initiatives for the development.
Coast at Lakeshore East
Coast at Lakeshore East was acquired by Morguard Residential in the summer of 2017. This 515-unit luxury development features studio, convertible, one, two and three bedroom apartments. The building features 18,000 square feet of amenity space.
RL Accelerated partnered with Morguard in early 2018 to aid in its ongoing leasing efforts. The RL team will be responsible for marketing and leasing the development.
Alta at K Station
Alta at K Station is a two tower development featuring 848 apartments and 32,000 square feet of luxury amenities. The building is located in a highly desirable location, situated on the edge of River North, Fulton Market District and the West Loop.
RL Accelerated was engaged by the owner, Morguard, to aid in leasing and marketing efforts. In addition to the leasing efforts, RL will oversee initiatives designed to streamline its online presence and provide transparent listing information to its renters and prospective renters.