CHICAGO (Dec. 9, 2014) – Laramar Management Services, LLC, a subsidiary of the Laramar Group, announced North Water Apartments, a luxury residential property in Chicago, Illinois, will deliver in March 2015. Laramar has served as development consultants for the owner and developer, DRW Trading Group, from the project's beginning, and will now continue with leasing and property management.
The 50-story, 398-unit North Water residential building is built above the 400-room Loews Chicago Hotel in the Streeterville neighborhood. Just one block north of the Chicago River, North Water will have breathtaking lake, river and skyline views. To date, Laramar has worked closely with the architect, interior designer and marketing firms to design unit layouts, common area spaces and select finishes, as well as to develop the property's identity and brand.
"Having been so involved with this project from the beginning, we have a deep understanding of DRW Trading Group's desired brand goals, building design and resident services standards," said Steve Boyack, Laramar's senior vice president of asset management. "Our extensive experience in luxury property management, especially in urban markets like Chicago, allows us to work with them to provide an elegant living experience for future North Water residents."
The units at North Water will include studios, convertibles, one-, two- and three-bedrooms. The high- quality residential features include quartzite stone kitchen countertops, stainless steel kitchen appliances, in-unit washer/dryer combos and walk-in showers. Located at 340 E. North Upper Water St., this state-of-the-art building will offer indoor parking and bike storage, a fully equipped fitness center and an outdoor pool and BBQ area. The amenity spaces, located on the 15th and 50th floors, are equipped with areas for entertaining, lounging and full, professional kitchens. Additional differentiating amenities include a dog wash, large outdoor deck with lounge areas and an outdoor fireplace.
Pre-leasing is expected to begin in January 2015 and units will be delivered in March 2015. For more information about the North Water development, please visit www.northwaterapts.com.
About Laramar Management Services
Laramar Management Services, LLC, a subsidiary of The Laramar Group, provides development consulting and management services for multifamily developments, from initial property purchase and renovation to brand and identity, as well as unit layout design, common area interior plan and building finishes. The division has extensive experience in leading the strategy and execution of pre-leasing and ongoing property management, in both stabilized assets and new developments. For further information, please visit www.laramargroup.com.
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 14 regional offices and more than 1,000 employees across the United States. With an established strategy of pursuing value-add investments in multi-family real estate assets 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 30,000 units and over 1M square feet of retail assets. For more information, please visit www.laramargroup.com.