Chicago, IL (April 4, 2016) – The Laramar Group, a national real estate investment and management company, announced today that they have been assigned property management responsibilities for 850 Lake Shore Drive in Chicago, IL.
850 Lake Shore is a historic building located in Chicago's upscale Streeterville neighborhood. The classic Beaux Arts property was built in 1927 as the Lake Shore Athletic Club, and was thoroughly restored and completely updated to become one of the most desirable Chicago apartment buildings in the city. 850's prestigious Lake Shore Drive apartments offer residents breathtaking views of the lake and city with direct access to Chicago's finest parks, beaches, shops, restaurants, and cultural attractions. These apartment homes offer the ultimate in comfort and luxury with spacious floor plans, high ceilings, and upscale finishes and amenities – all in a historically significant building.
JP Morgan recently acquired the 850 Lake Shore Drive and selected Laramar as its property management partner based on Laramar's extensive experience and successful track record in the Chicago market. “We look forward to working with JP Morgan and taking this wonderful property to the next level,” said Steve Boyack, Chief Operating Officer of The Laramar Group. “Expanding our third party business with large institutional investors, like JP Morgan, is the perfect complement to our Laramar-owned assets in our core markets, such as Chicago, Denver, Los Angeles, and Washington, DC.”
The Laramar Group, founded in 1989 and with corporate headquarters in Chicago and property management headquarters in Denver, is a national real estate investment and management company with more than 600 employees across the U.S. With an established strategy of pursing value-add investments in multi-family real estate on a national basis, The Laramar Group and its predecessor company have invested roughly $3 billion throughout the United States and currently owns and/or manages in excess of 20,000 units and over 1M square feet of retail assets. For each of its own investments, The Laramar Group oversees all renovation program – from concept to construction – and property management. For more information, please visit www.laramargroup.com.