Around Rogers Park: New Construction Apartments Filling Up


 

Thirteen-23 West Morse is a Tawani Enterprises that replaces a former strip center at the southeast corner of Morse and Wayne. A spokeswoman for the company reports that the building is complete and currently 96% leased. Achieved rents are in line with projections.

The Concord on Sheridan is a Three Corners Development that mixes CHA and market-rate units with a retail base. The affordable units comprise 60% of the total with the balance (40%) at market rate. There are a total of 111 apartments. The retail base includes a 23,000 square foot flexible format Target store which is now open, and 7,000 square feet for other retail tenants. The property manager reports that the property began leasing in August and is already 100% occupied.

Finally, BJB Properties purchased a large courtyard building at 6701 N. Glenwood and did a complete, gut-rehab of the entire building. The construction phase of development is now complete and the building is being leased. Efforts to contact BJB were unsuccessful. The property appears to be well occupied.

All of these developments indicate demand in the Rogers Park community for new, well-conceived apartment product, and the continued movement of more affluent renters to the Rogers Park community. This is likely due to both the relative affordability of Rogers Park compared to other Lakefront neighborhoods south of Devon, but also to the increasing appeal of the Rogers Park community with its Lakefront access, proximity to the Red Line, Metra and express CTA buses, and its appealing location between Evanston and downtown Chicago. These developments all testify to the neighborhood’s growing popularity. We should all be pleased with their success.