Multifamily N Illinois

Boutique apartment property, 61 Banks Street, opens in Chicago's Gold Coast

An eight-story, 58-unit boutique rental building at Banks Street and Lake Shore Drive, 61 Banks Street is located on the last developable lakefront parcel in Chicago’s premier Gold Coast neighborhood. An eight-story, 58-unit boutique rental building at Banks Street and Lake Shore Drive, 61 Banks Street is located on the last developable lakefront parcel in Chicago’s premier Gold Coast neighborhood.
From left to right: Draper & Kramer’s David Newton, Blas Puzon, Ed Polich, Kelli Stuart, Gordon Ziegenhagen, Todd Bancroft, Jim Hayes, Julie Stevlingson and Derrick Hawthorne. From left to right: Draper & Kramer’s David Newton, Blas Puzon, Ed Polich, Kelli Stuart, Gordon Ziegenhagen, Todd Bancroft, Jim Hayes, Julie Stevlingson and Derrick Hawthorne.
The lushly landscaped rooftop terrace at 61 Banks Street features multiple outdoor seating groupings, dining areas and grilling stations. The lushly landscaped rooftop terrace at 61 Banks Street features multiple outdoor seating groupings, dining areas and grilling stations.

Draper and Kramer, Incorporated, last week celebrated the grand opening of 61 Banks Street, an eight-story, 58-unit boutique rental building at Banks Street and Lake Shore Drive, on the last developable lakefront parcel in Chicago’s premier Gold Coast neighborhood. Among the guests at the grand opening were representatives from project partners including architect Booth Hansen, interior architect Darcy Bonner & Associates, landscape architect Jacobs/Ryan and general contractor Leopardo.

“It has been three decades since a new residential building opened along this prominent stretch of the Lake Michigan shoreline, so we are tremendously proud to be celebrating the completion of 61 Banks Street—a community that combines the elegance of a Gold Coast address with the flexibility of a rental lifestyle,” said Todd Bancroft, president and CEO of Draper and Kramer, the project’s developer. “Our team took tremendous care in creating a building appropriately scaled to this one-of-a-kind site, and from its elegant exterior and intimate environment to the quality and craftsmanship that went into each residence, 61 Banks Street fits perfectly into the fabric of the surrounding neighborhood.”

Nearly 70 percent leased, 61 Banks Street includes a mix of two- and three-bedroom residences, with two-bedroom apartments averaging 1,630 square feet and three-bedroom plans averaging 2,340 square feet. Additionally, the building features seven two-story, rowhome-style maisonettes lining its base along Lake Shore Drive and Banks Street that offer two- and three-bedroom plans with direct street-level entrances.

“The incredible response we’ve already had from renters speaks not only to the appeal of a new-construction building in a neighborhood best-known for its vintage residences, but also the strong demand for rental apartments of this size and caliber,” said Bancroft. “In fact, our three-bedroom units and rowhome-style maisonettes have been the quickest to lease. All our apartments at 61 Banks Street are generously sized, making them a great option for renters by choice, whether they’re searching for a city residence to accommodate a family, downsizing from a single-family home or simply looking for a gracious apartment near everything Chicago has to offer.”

During the grand opening, attendees had the opportunity to tour a decorated two-bedroom model apartment with furnishings by RH Modern, as well as additional apartments showcasing two- and three-bedroom floor plans and a maisonette residence. All homes at 61 Banks Street feature open layouts with modern gourmet kitchens, spa-style bathrooms, spacious in-unit laundry rooms, 10-foot ceilings, high-end finishes and expanses of floor-to-ceiling windows.

The grand opening event also showcased the rooftop amenity space at 61 Banks Street, which includes a glass-enclosed club lounge with entertaining kitchen, library and fitness center. Additionally, a lushly landscaped rooftop terrace, where all residents can enjoy the building’s unmatched views of Lake Michigan, the city and the surrounding neighborhood, features multiple outdoor seating groupings, dining areas and grilling stations.

“The Lake Michigan views from 61 Banks Street and its roof deck are outstanding year-round, but now that we’re into summer, residents can experience everything that’s so special about living along the waterfront during these warm weather months,” said Bancroft. “From watching boat activity and beachgoers and pedestrians along the Lakefront Trail, to having a front-row seat to events like the Chicago Air & Water Show or Navy Pier’s weekly fireworks display, there’s really nothing that can compare to this location.”