Developers start Chicago high rise with convertibility in mind

North Chicago to see record levels of unit deliveries in 2016, 2017
  • With Class A rents continuing to rise, do condo purchases make more sense for some Chicago residents?
  • Chicago's Near North side dubbed as an epicenter for future development.
  • 8,000 rental units are predicted to be delivered in Chicago during the next two years.

One development team appears unfazed by the roughly 4,500 apartments that are slated to be delivered in downtown Chicago during 2017. A joint venture of Chicago-based Ascend Real Estate Group and Boston-based Intercontinental Real Estate Corp. recently broke ground on a 18-story, 202-unit rental tower on the city’s Near North side.