CHICAGO, IL – Multifamily designer and operator, Common has opened its 59-unit, Chicago flagship property, Common Addams. The company has launched the property in partnership with Chicago co-living developer, City Pads.
The four story, 223-bed property serves as Common's largest multifamily property under management in Chicago and it represents the company's fourth project with City Pads.
With multifamily units starting at less than $900 per month, Common Addams aims to offer an attainable, all-inclusive residential option for the Illinois Medical District's underserved workforce.
As with the majority of Common's properties, Common Addams includes all utilities, wi-fi, furniture, weekly cleanings, free laundry and shared supplies within its rent prices. Residents will also receive access to Common's proprietary technology, Connect by Common, to make payments, communicate with roommates and attend virtual events.
In addition to the property's 59 residential units, Common Addams features more than 4,000 square feet of amenity space, as well as an on-site parking garage. The additional amenity space encompasses 300-square-foot lounges on each floor, a fully-equipped gym, a meditation room, remote work spaces and a furnished roofdeck with grills and 360-degree city views.
Located at 1401-1431 W. 15th St., in Chicago's Little Italy neighborhood, the property is situated between the Illinois Medical District, a tech hub, two universities and the Chicago cultural center, Pilsen.
"Now more than ever, Chicago residents need affordability and reliability in the places they call home. As the world changes, Common is committed to continuing to meet the needs of renters, and the beautiful apartments and thoughtful amenities in Common Addams do just that," said Common founder and CEO, Brad Hargreaves. "We're so lucky to have found such a complimentary partner as City Pads to bring Common Addams to life and increase the housing stock for a neighborhood that truly needs it– the Illinois Medical District."
Upon launching its first Chicago project in 2017, Common's current Chicago portfolio includes Common Simonds, Common Maplewood and Common Racine. Common Addams serves as the company's sixth building in Chicago.
The company was additionally recently selected to operate two of Nuveen Real Estate's largest multifamily assets.
Common is currently offering virtual tours of Common Addams, as well as its other properties across the country, in order to accommodate potential tenants.
"We are proud to see Common Addams open its doors and deliver on our promise to provide Chicago with its first large-scale co-living development," said Andy Ahitow, City Pads founder. "Bringing new housing to a city in desperate need of alternative and accessible residential options is core to our mission, and I love seeing Chicago's medical community benefit from this living experience."
Common Addam's roofdeck. Photo by Common.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
