CHICAGO - (April 15, 2021)
Pre-leasing to start in summer for Wrigleyville Lofts, located two and a half blocks north of Wrigley Field
Draper and Kramer, Incorporated, today announced it has topped off a 120-unit mixed-use development at 949 W. Dakin St. in Chicago’s Wrigleyville neighborhood. The project will be named Wrigleyville Lofts and is located across the street from the Sheridan Red Line station and two and a half blocks north of Wrigley Field. Draper and Kramer plans to begin pre-leasing this summer for fall 2021 move-ins.
Draper and Kramer has also released new renderings showcasing the property’s amenities and modern “urban-industrial” style, with exposed ductwork, black steel-framed glass walls and accents of brick and stone.
Wrigleyville Lofts is the latest addition to the historic Wrigleyville neighborhood and will include a mix of one- and two-bedroom apartments, plus 14,000 square feet of ground-floor retail space. Lakeview Ace Hardware, which occupied the single-story structure previously on the site, will return to anchor the corner commercial space at Dakin Street and Sheridan Road. Lakeview Ace, owned by Joe Lomanto, is also a minority partner in the development.
“This is a beautiful boutique building that takes advantage of its proximity to Wrigley Field, transit options, Lake Michigan and all the classic bars and restaurants of the Wrigleyville neighborhood to offer residents a great living experience,” said Blas Puzon, chief investment officer for Draper and Kramer. “The area around the ballpark has always been vibrant and popular. Recent development has only made it more so, with visitors now coming year-round thanks to new hospitality and retail offerings, and more people than ever wanting to live here.”
“Wrigleyville Lofts will fill a niche in the market, offering a transit-oriented development with modern residences smartly configured to accommodate those working from home, as well as plenty of shared amenity spaces residents will love,” said James Elsman, development manager for Draper and Kramer. “As one of Chicago’s oldest real estate developers, we’re excited to add our signature to one of Chicago’s most iconic neighborhoods.”
Designed by Sullivan, Goulette & Wilson Architects, Wrigleyville Lofts features a facade of red brick accented with limestone, drawing inspiration from the surrounding neighborhood, including Wrigley Field itself. Large windows allow for abundant natural light in the residences. Common areas on the ground floor and roof deck will give residents many options for gathering with friends and neighbors.
Upon completion, the community will include 108 one-bedroom/one-bath and 12 two-bedroom/two-bath units ranging in size from 620 to 1,040 square feet, with rents starting at approximately $1,900 per month. Apartments will feature 9-foot, 4-inch ceilings with exposed structure and ductwork; stone countertops and stainless steel appliances in kitchens; full-size stackable washers and dryers; and additional storage.
A rooftop deck with views of Wrigley Field and Lake Michigan will feature grills, outdoor dining space, a fire pit and TV viewing area. Indoors, on the first floor, a large lobby with floor-to-ceiling windows will feature several meeting and gathering areas, along with a coffee shop where residents can sip coffee while checking their train status on a live transit monitor. The first floor also will have a private clubroom with bar/kitchen, fitness center, heated bike storage room and private parking garage. In addition to the Ace Hardware and coffee shop, there will be three additional retail spaces at street level ranging from 1,300 to 2,200 square feet.
Residents of Wrigleyville Lofts can walk to neighborhood bars, restaurants, music venues and more, as well as Wrigley Field. They also will be just four blocks west of Lake Michigan and the Lakefront Trail, an 18-mile path for bikers, runners and walkers, as well as other lakefront attractions like Fullerton Beach, the city’s lakefront golf course and the Belmont Harbor Dog Beach.
The Chicago regional office of the U.S. Department of Housing and Urban Development (HUD) financed the project, with Gershman Mortgage acting as the HUD lender in the transaction. Leopardo Construction is the general contractor.
About Draper and Kramer, Incorporated
Founded in 1893, Draper and Kramer, Incorporated, is a trusted financial and property services provider with a deep commitment to people, excellence, service and integrity spanning more than 125 years. Family-owned and one of the leading privately held real estate services firms in the U.S., Draper and Kramer is headquartered in Chicago with a national reach and broad offering of services. The company’s decades-long heritage has evolved over the years to meet the needs of its clients and today spans expertise in residential and commercial development, acquisition, property management and leasing; debt and equity financing for commercial properties; and residential mortgage services through affiliate Draper and Kramer Mortgage Corp. Draper and Kramer provides a single source of real estate-related counsel to a diverse group of real estate investors across the U.S. including corporations; private and institutional owners and users of real estate; government agencies; condominium associations; and foundations. For more information, visit draperandkramer.com.
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