Just yesterday, Greystar, a leading global real estate investment company, announced it has broken ground on its very first Chicago development. The company has begun construction at 166 N. Aberdeen St., which is slated to become a high-rise apartment complex comprised of 223 studio, convertible, and 1, 2, and 3-bedroom apartments.
Greystar has collaborated with architect, planning, and design firm SCB to bring a modern touch to the “historic warehouse-like masonry base,” shares a press release. Among the many amenities coming to the new development are a third-floor deck with pool, lawn, and lounge areas as well as fitness areas and co-working spaces, and a 14th-floor outdoor lounge that faces downtown Chicago.
“We’re excited to break ground on Greystar’s first development in Chicago,” Yale Dieckmann, Managing Director of Development, said in the press release. “Fulton Market is the most dynamic neighborhood in the city, and we look forward to complementing the area’s substantial office development with high-quality housing. The location is ideal for people who want a walkable neighborhood with access to the best live/work/play amenities in the city.”
Deputy Mayor Samir Mayekar added, “This neighborhood represents the future of Chicago.”
Greystar, headquartered in South Carolina, operates an estimated $220 billion in real estate in more than 200 markets globally. This is Greystar’s first development in the Windy City.
Construction is expected to reach completion in March 2023.