Webster Square Apartments Hit 90-Percent Leased Mark
Nov 11th, 2014
New luxury apartment development in Lincoln Park nears full occupancy
Webster Square Apartments, the only new-construction luxury apartment building in Chicago’s Lincoln Park neighborhood, has surpassed the 90-percent-leased mark with just six units remaining. The 75-unit building, developed and managed by affiliates of Chicago-based Sandz Development Company, Inc., opened this spring. Chicago-based brokerage firm @properties has overseen leasing and marketing.
The remaining apartments include:
- A 1-bedroom, 1-bath floor plan with 882 square feet, renting for $2,495 per month
- A 2-bedroom, 1-bath apartment with 977 square feet, renting for $2,995 per month
- Three 2-bedroom, 2-bath apartments with 1,180 to 1,238 square feet, renting for $3,250 to $3,495 per month
- A 3-bedroom, 3-bath floor plan with 2,652 square feet, a private street-level entrance and a large outdoor terrace, renting for $9,000 per month
Rental rates include one garage parking space.
Located at 558 W. Webster Ave., at the intersection of Webster and Lincoln Avenues, the apartment building is part of the larger Webster Square master-planned community, which is the redevelopment of the former Lincoln Park Hospital site. The development will also feature a 12-story luxury condominium building, eight single-family homes on Grant Street, a 255-car parking garage, and Mrs. Green’s Natural Market, which opened last year.
“Webster Square is a rare opportunity for new-construction apartment living in Lincoln Park. We’ve been helped by a strong apartment market, but ultimately it’s new construction in such an established location that has driven the rapid lease-up,” said Webster Square developer, Richard Zisook, president of Sandz Development Co., Inc.
“Sandz knows their market and they’ve delivered a first-class building. Right product, right place, right time,” said Thaddeus Wong, co-founder of @properties.
Among the upscale features in the apartments are 9’ ceilings; wide-plank flooring in living areas; stainless steel appliances; quartz countertops; contemporary European-style cabinetry; in-unit washer and dryer; Kohler and Grohe plumbing fixtures; and views of the downtown skyline, Oz Park and Lincoln Park.
Webster Square residents also have access to an assortment of amenities, including a fitness center, business center, bicycle storage, rooftop sundeck with gas grills and rooftop club room with kitchen. The building is also pet-friendly.
Located across the street from Oz Park in the heart of Lincoln Park, Webster Square is surrounded by shops and restaurants; top-notch public and private schools including Lincoln Elementary, Lincoln Park High School and Francis W. Parker; and cultural attractions such as The Lincoln Park Zoo and Steppenwolf Theatre.
For more information on Webster Square, visit http://www.webstersquare.com or call 773-791-0550.
About Sandz Development
Over the past four decades, Chicago-based Sandz Development Co., Inc. has been a pivotal player in the development of several North Side neighborhoods including Lincoln Park, Old Town, the Gold Coast and Streeterville. Sandz Development has successfully completed dozens of development and construction projects throughout Chicago, including 530 N. Lake Shore Drive, 600 N. Lake Shore Drive, Dickens Court Townhomes, Eugenie Terrace Townhomes and The Whitney on Dearborn.
Established in 2000, @properties is the largest independent real estate brokerage firm in Illinois and one of the top 20 residential brokers in the U.S. @properties has 17 office locations in the city, northern suburbs and southwest Michigan. For more information, visit http://www.atproperties.com.
The 2015 @report: Market pricing and dynamics, plus new in-depth features highlighting Chicago development trendsLearn more
@properties oversaw leasing for a new, 75-unit apartment community in Lincoln Park — achieving stabilization in 6 months with very limited marketing expenditure.Learn more
Reporter Sharon Stangenes toured Webster Square Apartments in October 2014 for her “Apartment Hunt” column in the Chicago Tribune. Stangenes interviewed Sandz Development partner David Goldman, who explained why the development stands out among the other tenant-ready rentals in the area, particularly in terms of its views and premier location in the heart of Lincoln Park.Learn more
Webster Square was featured in an October 2014 article of Chicago Magazine, highlighting the upcoming start of condominium pre-sales and the success of Webster Square Apartments, which surpassed the 90-percent leased mark.Learn more
On June 3, 2014, Crain’s Chicago Business wrote an article highlighting the condominium phase of Webster Square in Lincoln Park. In the article, Sandz Development partner David Goldman provided an update on the project and explained why the condominium component is a “natural progression.”Learn more