CHICAGO—BlitzLake Partners has awarded 33 Realty, a Chicago-based commercial real estate firm, the leasing and management assignment for Duet, its newest luxury apartment development located at 2448-2462 N. Lincoln Ave. BlitzLake plans to deliver the 31-unit complex in Chicago's Lincoln Park neighborhood in late summer, and 33's brokerage division will kick off pre-leasing in May.
Thousands of new Chicago units will come online over 2018, but Drew Millard, a 33 principal, tells GlobeSt.com that “the neighborhood is definitely not oversaturated with this type of product. These are more like luxury condos, and all have an incredibly high level of finishes.”
This group of apartments is targeted toward several specific groups. Millard expects older, more established renters, many in their 30s, will find the property appealing. They are at the stage where buying a home may make a lot of sense, but many also feel we are “at, or near the top of the single-family market, and want to wait for a correction before buying.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
