Multifamily N Illinois

Boutique rental building breaks ground in Chicago’s Gold Coast

Boutique rental building breaks ground in Chicago’s Gold Coast,ph01
The rooftop amenity deck on 61 Banks Street will feature a green roof, outdoor seating, grilling, a library, fitness center and more.

Construction has begun on 61 Banks Street, Draper and Kramer’s new boutique residential building along Chicago’s lakefront. Occupying the last undeveloped site on the Gold Coast neighborhood’s stretch of Lake Shore Drive, the eight-story property will feature 58 upscale residences, with expected monthly rents ranging between $5,500 to over $12,000.

The building, expected to be completed by early 2019, will offer two- and three-bedroom rentals, as well as seven “maisonette” rowhome units that will each occupy two stories and offer direct street-level entrances and private terraces. Residents will also have access to a full-time hotel-style concierge and valet parking.

“The Gold Coast is Chicago’s premier neighborhood, and we’re incredibly proud to have designed a building that brings both a sophisticated design aesthetic and elegant lifestyle to match this prime lakefront location,” said Ed Polich, senior vice president and chief development officer for Draper and Kramer. “This building will be a unique residential enclave in one of this city’s most sought-after areas, not only delivering unmatched resident services, but also complementing the context of the Gold Coast and adjacent lakefront.”

Designed by Booth Hansen, the building will have an exterior that contrasts between traditional and modern: cast stone, glass and metal architectural bays. “The design of 61 Banks Street incorporates elements of the many fine examples of art deco and mid-century modern architecture found in the immediate neighborhood,” said Larry Booth, principal and director of Booth Hansen.

Landscaping also factors into the aesthetics and amenities at 61 Banks Street. Topping off the structure will be green roof, expansive outdoor terrace and an enclosed rooftop club that is to include a lounge, library, kitchen and fitness center. The street-level terraces and lush landscaping beds adjacent to the maisonette residences will enhance the streetscape on all sides of the building. All landscaping is the work of award-winning landscape design firm Jacobs/Ryan Associates, while Leopardo Companies is serving as general contractor for the project.

Residences at 61 Banks Street will be generous in size, with two-bedroom units averaging 1,700 square feet and three-bedroom apartments averaging 2,400 square feet. Floor plans will showcase the property’s Lake Michigan frontage with open layouts, 10-plus-foot ceilings and expanses of floor-to-ceiling windows.

The resident experience at 61 Banks Street will be enhanced by the high caliber of craftsmanship and finish level found throughout the building and in each apartment, created under the guidance of Booth Hansen and renowned interior architect Darcy Bonner & Associates. Elegant apartments feature a warm, natural palette, custom details, spa-style bathrooms and gourmet kitchens with Bosch appliances, quartz and stone countertops, and built-in wine coolers. Engineered plank flooring runs throughout each residence.

“As always, our team sought out the highest-quality materials for these residences, selecting modern yet classic elements to be the backdrop for each resident’s own interior design choices and personal touches,” said Darcy Bonner, principal of Darcy Bonner & Associates.