Urban Developers See More Demand from Older, More Affluent Groups

The Sinclair, at LaSalle St. and Division St. in Chicago, will also have a Jewel grocery store at street level.

CHICAGO—The demand for luxury apartments in the urban core has been very steady for a number of years, but that doesn’t mean the market hasn’t changed in some ways. Developers have recently noted older, more affluent prospects touring their properties, for example, and have responded by designing much larger units, many with three or even four bedrooms.

“We used to see a lot of 22- to 28-year-olds,” Randy Fifield, chairwoman of Fifield Realty Corp., tells GlobeSt.com. “They were young kids that wanted an urban lifestyle.” But many were accompanied on initial unit tours by their parents, who then saw the types of amenities, both in the buildings and surrounding neighborhoods, that were available to urban dwellers. “They were looking at this environment, and many are deciding to try it on.”