Looking Ahead: Chicago Apartment Developments Opening in 2015
by Nick Nastos
on Sunday, November 30th, 2014 at 3:59pm.
If you think 2014 was an exciting year for luxury rentals in Chicago, 2015 looks to be even brighter, with several prominent new developments set to open sometime over the next 12 months. And to go along with that, what's even more exciting, at least in the eyes of renters who might be in the market for a new rental, is that it appears the apartment market here in downtown Chicago is finally starting to cool off a bit as inventory has expanded over the past two years.
As reported by YoChicago back in October, the downtown Chicago area added nearly 3,000 rental units through large-scale development back in 2013, while this past year, another 2,100+ also came to market. And while occupancy levels are fairly high at buildings like 111 W. Wacker, 500 N. Lake Shore Drive, and a number of other new high-rises around town, plenty of units still remain, while at the same time, we can also expect another 3,800+ new apartments to hit the market over 2015—a record number for Chicago.
So, if you're planning a move sometime in 2015, you might just have a plethora of new apartments to choose from, depending of course on when you plan to make that transition. In the meantime however, here's a closer look at what's going to be coming through the pipleine as we head into the closing weeks of 2014...