New TODs Providing Renters the Best of Both Worlds

Lakeview 3200, at the corner of Belmont and Clark, just started leasing its 90 units, and may finish ahead of schedule.

CHICAGO—The demand for luxury rental apartments close to downtown has fueled a remarkable construction boom that has lasted for several years, but many still prefer communities with richer cultural amenities, retail options and entertainment. That so far has been the experience of Chicago-based BlitzLake Partners, which recently started pre-leasing at Lakeview 3200, its new transit-oriented, mixed-use development one block east of the Belmont CTA station in Chicago’s Lakeview neighborhood.

“There is a lot of new supply coming online downtown,” David Blitz, managing partner of BlitzLake, tells GlobeSt.com, “but there are a lot of people that don’t want to live in River North or the West Loop.”