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Akara Begins Leasing at Fulton River Development

CHICAGO—The luxury apartments replace what had been a rather decrepit collection of vacant buildings.

By Brian J. Rogal | brianjrogal | | Updated on July 25, 2016

 

chi-PoolDeck (2) The pool deck at Akara’s Kenect Chicago.
CHICAGO— Akara Partners has just begun leasing at Kenect Chicago, a mixed-use apartment development in the city’s Fulton River District near the West Loop. Its 227 apartment units replace what had been a rather decrepit collection of vacant buildings on the northwest corner of Milwaukee Ave. and Grand Ave. where they intersect with Halsted St. Initial move-ins started in June, with all units available for occupancy in September. “Residents are signing leases and moving in as quickly as we can complete the units,” says Rajen Shastri , founder and chief executive officer of Chicago-based Akara. “The pace of leasing has surpassed even our expectations, as residents are drawn to the location in the Fulton River District, the excellent access to public transportation and divvy bikes, and the range of amenities within Kenect.” Kenect Chicago also has 15,000 square feet of street-level retail space and 97 parking spaces. The development includes a four-story building on the corner and a 14-story building on the other side of Green St. Its address is 504 and 505 N. Green St. Apartments include 76 studio units with an average size of 478 square feet; 123 one-bedroom units averaging 691 square feet; 20 two-bedroom units with 1133 square feet; and eight three-bedroom units with 1506 square feet.

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