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Pre-Leasing begins for new Wrigleyville Lofts

Pre-Leasing begins for new Wrigleyville Lofts
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Developer tops off new apartment building in Wrigleyville

Developer tops off new apartment building in Wrigleyville
May 5, 2021
Draper and Kramer, Incorporated has announced the topping off a 120-unit mixed-use development at 949 W. Dakin St. in Chicago’s Wrigleyville neighborhood. The project will be named Wrigleyville Lofts and is located across the street from the Sheridan Red Line station and two and a half blocks north of Wrigley Field. Draper and Kramer plans to begin pre-leasing this summer for fall 2021 move-ins.
Draper and Kramer has also released new renderings showcasing the property’s amenities and modern “urban-industrial” style, with exposed ductwork, black steel-framed glass walls and accents of brick and stone. ....

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This Week's Chicago Deal Sheet (April 4, 2021)

One year after the start of the coronavirus pandemic, the Chicago-area industrial market’s vacancy and rental rates have nearly returned to pre-pandemic levels, according to a new report from Newmark.
Although the industrial sector took a hit in the first few weeks of the crisis, it began climbing back once the shock wore off and tenants saw increased demand from homebound consumers purchasing goods online. Many resumed signing leases, sending vacancy down to 6.2% in Q1 2021, a decade low, and recently have shown a willingness to pay more for space.
Courtesy of Newmark
“This sentiment of only a slight dip in the market as opposed to a full long-term stop is reflected in the rental rates on transactions completed during the pandemic,” according to the Newmark report. ....

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