CHICAGO-Though executives at the Lynd Co. had hoped to open at100% occupied, the new $72 million EnV apartment tower in the RiverNorth neighborhood is finished, but still 60% vacant. Further, the27,000 square feet of main-floor retail is also empty, two yearsafter the firm hired Cushman & Wakefield to market thespace.
David Lynd, COO with the firm, tells GlobeSt.com that thevacancy could be just a matter of timing and pricing. “Our leasingstarted in July, but because the leasing season begins about threemonths earlier, we may have missed part of it,” Lynd says.
The 249 units at 161 W. Kinzie are offered at about $2.95 persquare foot, the highest rate for apartments in the city. Anaverage unit is about 900 square feet, with penthouses offered atabout $4,800 per month.
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