CHICAGO— A partnership between entrepreneur Dan Moceri, architect/developer Thomas Roszak, and Deerfield, IL-based Oak Residential Partners, LLC, will soon launch a new apartment project at the southwest corner of Jefferson St. and Jackson Blvd. in the West Loop neighborhood. The 15-story building will have 190 rental units and include studios, one-bedroom and two-bedroom configurations. The partners will start construction in January 2014 and should have the apartments ready for occupancy by Spring 2015.
Furthermore, they plan to make it a LEED Silver certified building. It will have an eco-garden located on the 4th floor above indoor parking. An 8,500-square-foot amenity space on the 15th floor will include an indoor pool, sundeck, dining cabanas, exercise facility including a yoga studio, social room, library, media room, executive conference room, and a business center. The Jefferson St. side will include a 4,100-square-foot restaurant and a 1,200-square-foot coffee shop will sit on Jackson Blvd.
The architectural design will compliment the old manufacturing district’s warehouse buildings. A portion of the building will show large loft-type windows set in a solid concrete wall, while a new glassy block will occupy Jackson Blvd., with a curtain-wall accented by bright green mullions depicting the original Chicago prairie grass.
Moceri co-founded Convergint Technologies, a building services infrastructure company with 1,600 employees in 42 cities. He will provide financial resources and key equity for the project. Roszak has helped develop a portfolio of commercial and residential real estate projects throughout the US with a development value in excess of $1 Billion. His TR Management + Consulting will act as the developer lead, and in conjunction with its affiliated architecture firm TRA and the construction management firm SteelGrass, will execute the various development, design and construction activities.
Oak will provide equity to the development through a joint venture with New York-based Atlantic Creek Real Estate Partners, LLC. First Merit Bank has provided construction financing. Both the financing and equity was arranged by Jones Lang LaSalle. The Clark Construction Group has been hired as the general contractor. Lincoln Property Co. will handle property management and residential leasing. Baum Realty Group will lease the street-level retail space.