CRE Midwest

Fifield Cos. breaks ground on NEXT Luxury Apartments in Chicago

Developer Fifield Cos. has broken ground on NEXT, a 310-unit luxury apartment project in Chicago’s River North neighborhood expected to deliver in early 2017. The groundbreaking ceremony took place June 9 as construction crews were hard at work excavating the site.

Developer Fifield Cos. has broken ground on NEXT, a 310-unit luxury apartment project in Chicago’s River North neighborhood expected to deliver in early 2017. The groundbreaking ceremony took place June 9 as construction crews were hard at work excavating the site.

“With more and more multinational corporations and small technology startups moving into the city’s River North neighborhood, the area north of Chicago Avenue in is in high demand by developers and potential residents alike,” said Randy Fifield, vice chair and principal at Fifield Cos. as she addressed the crowd at the groundbreaking, which included City of Chicago 27th Ward Alderman Walter Burnett Jr. and Gladys Jordan, president of Interfaith Housing Development Corporation.

“Google is here, Amazon is coming, even Facebook is looking to Chicago for a new home. With more jobs comes the need for additional housing – housing that is more affordable for the next group of Chicagoans who are looking for starter homes near where they work, without forgoing the amenities they’ve become accustomed to. NEXT will provide just that.”

The day was particularly happy for Fifield Cos. as difficult land use and planning ordinances made the approval process for the project an uphill battle, noted Steve Fifield, president and CEO of Fifield Cos.

“Chicago is changing unlike anybody anticipated. The fact that we’re standing here today with a 28-story building under construction in this area is testament to that,” said Fifield.

“River North, the West Loop and Goose Island have formed a creative and technology jobs triangle, which continues to drive more jobs and residences into this area; but our land use and planning don’t reflect this evolution. This very area where people want to live is zoned for low density commercial and industrial use,” Fifield said. “I challenge my peers in design, construction, development and finance to help the city realize the potential of this area and amend and update the zoning and planning to capture the jobs and housing Chicago continues to attract for all of our city residents.”

Echoing support for NEXT and its impact on the neighborhood was Alderman Burnett Jr. “This development is great for our economy, and great for the city of Chicago,” he said.

In March of this year, Fifield Cos. donated $3.1 million to the City of Chicago’s affordable housing fund on behalf of NEXT.

The 28-story tower, located at 347 W. Chestnut St., will offer studio, one-, two- and three-bedroom luxury apartment rentals, with individual units ranging from 462 to 1,727 square feet. In keeping with Fifield Cos.’ other apartment developments, residents can expect top-of-the-line finishes that include plank flooring, quartz countertops, glass tile backsplashes, Grohe faucets, oak-faced flat paneled cabinets, GE stainless steel appliances and oversized windows. Select units will also feature private balconies, master bedroom walk-in closets, and double-bowl bathroom vanities.

“The NEXT generation loves convenience, flexibility, and amenities, and they love to share. They ride skateboards and bikes, and love technology and the latest apps,” said Randy Fifield. “Together with Alderman Burnett, Fifield Cos. has worked hard to bring these beautiful apartments – 85 percent of which are studios and one bedrooms – to this neighborhood to make life better, more efficient and more affordable.”

Designed with the latest amenities, NEXT will feature an outdoor pool and spa with an adjacent sun terrace, complete with cabanas, a fire pit and outdoor grilling kitchens. Other amenities include a state-of-the-art fitness club with an indoor/outdoor yoga studio; a screening TV with surround sound; demonstration kitchen; coffee bar; gaming center; business center and conference room. The building will also feature a bicycle “kitchen,” a trademark of Fifield Cos.’ properties, offering residents bicycle storage, supplies, tools and air pumps. NEXT will also include 6,000 square feet of ground-floor retail space.

In keeping with the share-centric lifestyle at NEXT, Randy Fifield also introduced the building’s very first resident – Daisy, the house dog – saying, “It’s expensive to have a dog. At NEXT you won’t have to have one, we’ll provide one for you.”

Located in Chicago’s River North neighborhood, NEXT is steps from popular dining and nightlife destinations, as well as nearby parks and grocery stores, including Whole Foods, Jewel-Osco and Walmart Express. The community is just three blocks from the CTA’s Chicago Brown/Purple Line station and a short walk from the Chicago Red Line station, offering convenient access to the Loop and both Midway and O’Hare International Airports.

Pappageorge Haymes has been retained as the building’s principal architect. McHugh Construction will serve as the general contractor for the project and Soucie Horner, Ltd. will design the building’s interior spaces.