Demand Increasing for Suburban TODs
After years of focus on downtown Chicago, developers are launching projects in the suburbs.
CHICAGO—In 2017, what had been a relatively healthy pace of multifamily construction turned into an actual boom that will continue this year. And many of these new suburban developments will cluster near train lines that can whisk young commuters to their downtown jobs.
The Opus Group has started construction on a luxury mixed-use development in Elmhurst – a Chicago area suburb. A mere 27-minute train ride from downtown Chicago, the six-story, transit-oriented development will feature 164 residential units and more than 7,600 square feet of class A retail space in the heart of downtown Elmhurst.
“We are excited to continue to work with the City of Elmhurst to bring this best-in-class development to the community,” says Bryan Farquhar, senior manager, real estate development, Opus Development Co., LLC. “The increase in demand for luxury living options paired with this unbeatable suburban location will be a great complement to the downtown plan; focused on supporting local businesses and enhancing an already vibrant core.”
The transit-oriented development is ideal for residents seeking the best of the suburbs, including access to grocery stores, restaurants and other urban amenities, while providing an easy commute to downtown Chicago via public transportation. Located at 100 N. Addison, the building will offer a full amenity package that includes a state-of-the-art fitness center and yoga room, a club room with demonstration kitchen, a communal dining room and work-from-home suites. The club room will also provide access to an outdoor amenity deck, which will feature a pool, pool-side cabanas, resident grilling area and outdoor kitchen, a lawn concept and outdoor televisions. Planned pet-friendly amenities include a pet spa and covered dog-walking area.
The unit mix will include junior 1-bedroom, standard 1-bedroom, 2-bedroom and 3-bedroom units and will all be finished with luxury finishes and appliances.
Construction began in November and is expected to be complete by next spring 2019. This project is the latest addition to Opus’ portfolio in the Chicago market, including the Uptown La Grange luxury apartments completed last April.
Opus Development Co., LLC is the developer and Opus Design Build, LLC is the design-builder for the project. Opus AE Group, LLC is the architect of record and structural engineer of record. Hartshorne Plunkard Architecture is the design architect and ESG Architects is the interior designer. The project is a joint venture with Principal Real Estate Investors.