X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO-The Park Millennium multifamily rental complex is the first in 14 years in the New East Side area Downtown, but it comes on line with supply outpacing demand. That has prompted developer Charles E. Smith Residential to offer prospects $3,000 packages worth of rent credits or incentives.

Renters at 222 N. Columbus Dr. can either apply the cash to their lease or receive services vouchers for a host of amenities. Among them are 24 hours-a-day room service from neighboring hotels, personal trainers, maid services and 24-hour car service.

Regional vice president of development Jim Dunlop the majority of renters so far are opting for the service vouchers.

Rents for the one-, two- and three-bedroom units range from $1,202 a month to $5,165 a month.

Charles E. Smith Residential owns nine buildings in the Chicago area, comprising 5,000 units. Among them are McClurg Court Center at 333 E. Ontario St., north of the Chicago River and in the New East Side.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.