• The average price per square foot (PPSF) increased by 2.1% to $3.94 in 2024, reflecting steady demand for rental units across Chicago’s core neighborhoods.
• Total rental volume increased by 33 percent, rising from 10,600 rentals in 2023 to 14,084 in 2024—an addition of nearly 3,500 units.
• Sixty-five percent of all rentals occurred between March and August.

• Studio and convertible rentals made up a larger share of total leases. These unit types saw a 3.3% increase in rents compared to 2023, with their share of total rentals rising from 27% to 30%.
• One-bedroom rents rose 4.3% while two-bedroom rents increased by 3.4%.
• Three-bedroom units experienced a 3.2% rent increase, reaching an average monthly rent $308 higher than the previous year.
• The average apartment size increased slightly, from 777 square feet in 2023 to 781 square feet in 2024, with River North experiencing the most significant size increase (+3.3%).
• Nearly all submarkets experienced rent growth, ranging from a two percent increase in West Loop/Fulton Market to a five percent increase in River North, the highest in the city.
• The Loop/Lakeshore East submarket was the only area to experience negative rent growth despite a 10% surge in total rental activity. 

The Saint Grand, a co-development and joint venture between Mavrek, Double Eagle Development, Luxury Living, and GW Properties, is proud to announce that Club Studio Fitness has signed a lease for 45,000 square feet spanning the 1st, 4th, and 5th floors of the building at 535 N St. Clair. The development has also achieved a significant milestone, reaching 95% occupancy in residential rentals within six months of obtaining its final certificate of occupancy. Furthermore, the ownership group is pleased to announce that the entire ground-floor retail space is fully leased.

“The development team is thrilled with the addition of Club Studio Fitness,” said Adam Friedberg, CEO of Mavrek. “This deal fulfills our vision when the project was conceived. Our development team executed and delivered a premier product, and I couldn’t be prouder.”

Nick Roberts, Chief Real Estate Officer for Fitness International commented: “With a long-standing presence in Chicagoland spanning three decades, Fitness International is proud to introduce our latest concept Club Studio Fitness, to Streeterville and its neighboring communities”.

“The signing of Club Studio for the entire 4th and 5th floors reflects the strength of The Saint Grand's offering,” said Anthony Hrusovsky, Chief Investment Officer at Mavrek. “We are thrilled to see the project reaching its full potential.”

Adam Pines and Matt Pistorio of Madison Rose represented Mavrek, while Robert Sevim andCullen Hurley of Savills, along with Ted Slaughter and John Kalamaras of Real Source, represented Club Studio Fitness in securing this flagship deal.

The Saint Grand’s ground-level retail tenants include a dynamic mix, including Wintrust Bank, Tropical Smoothie Café, and an exciting new food and beverage concept debuting in Chicago.

Bart Johnson, President of Wintrust Bank, N.A., stated “We are excited to be expanding the Wintrust footprint in Chicago’s vibrant Streeterville community and in The Saint Grand. This new branch location will help Wintrust better serve the neighborhood and our clients”.

Retail leasing efforts were led by Elan Rasansky and Anthony Campagni on behalf of the development team.

The Saint Grand’s residential rental offerings feature a variety of floorplans, including studios to two-bedroom + den layouts, emphasizing in-unit workspaces and private outdoor spaces tailored to post-pandemic renter preferences. A suite of community amenities includes a state-of-the-art fitness center, co-working spaces with ten private study/work rooms, upscale lounges, and a rooftop pool deck. 

“Now that The Saint Grand is fully stabilized, we are committed to providing the best living experience for our residents,” said Aaron Galvin, Founder of Luxury Living. “With the addition of Club Studio Fitness, Wintrust, and Tropical Smoothie, we continue to build upon the foundation of a true mixed-use development in the heart of one of downtown Chicago’s most prestigious neighborhoods.”

The Saint Grand is a testament to collaboration among industry leaders, including NORR (architecture), Lendlease (construction), Harken Interiors (interior design), and Cushman & Wakefield, which oversees residential and commercial property management.

Learn more about the apartments at LiveSaintGrand.com.

Lincolnwood’s newest luxury apartment community is now leasing. District 1860, located at 7215 District Avenue, is a six-story mixed-use development, offering studio to three-bedroom apartments. Luxury Living – the exclusive leasing and marketing partner for District 1860 – recently revealed a first look at the development’s residential and amenity offerings with interior photos. Luxury Living was engaged by Tucker Development and AECOM-Canyon Partners, a joint venture between AECOM Capital and Canyon Partners.

“District 1860 represents an opportunity to create a unique & exciting community for its residents and visitors,” said Aaron Tucker, president & CIO at Tucker Development. “The community is the only project of its kind in the area, with an acre of outdoor amenity spaces for the residents and nearly a half-acre of a new public green space. We are proud to partner with AECOM-Canyon Partners to bring the site to life.”

Only a short commute from downtown Chicago, District 1860 offers desirable city-meets-suburbs amenities, combining living, dining, and shopping in the vibrant village of Lincolnwood. Residents will have restaurants and retail opportunities right outside their front doors, while they enjoy the beautiful tree-lined streets and community parks in the area. For restaurant offerings, the development already has signed leases with Davanti Enoteca, Fatpour, Fat Rosie’s, and Amazon Fresh Grocery.

As seen in the first-look interior photos revealed today, District 1860 offers sophisticated living with high-end finishes and fixtures. Residences feature expansive kitchen islands, custom window treatments, up to 9’6″ high ceilings, and private outdoor spaces. Each home also comes with a full-size in-unit washer and dryer and walk-in closets.

District 1860 offers an extensive array of amenities that cater to every need. Residents can spend time with friends by the pool, relax around a fire, walk their dog on the rooftop dog run, watch the game in the resident community room, or break a sweat in the fully equipped fitness center. Working from home has also never been easier with District 1860’s state-of-the-art Wi-Fi system that lets residents connect to Wi-Fi from anywhere in the building. 

“We’re excited to welcome the community’s first residents this month, and it’s our privilege to showcase all the development has to offer for live, work and play opportunities,” said Luxury Living CEO & Founder Aaron Galvin.

Move-ins are expected to start later this month. The 299-unit apartment building offers studios starting at $1,850, one-bedrooms starting at $2,150, two-bedrooms starting at $3,250 and three-bedroom units starting at $3,995. Lincolnwood has an exceptional school district, making District 1860 an ideal place to live for residents at all stages of life.

City officials joined developers yesterday at an official groundbreaking and rendering reveal for The Saint Grand, Streeterville’s newest mixed-use development. The project is a joint venture between Mavrek Development, GW Properties, Luxury Living, and Double Eagle Development. The 21-story property is being constructed at the corner of Grand Avenue and St Clair. Office tenant build outs are expected later this year, with residential deliveries in early 2024.

“Breaking ground is the next exciting step on a project we’re eager to bring to completion, not only for our joint team of developers, but for the area and its residents as well,” Managing Partner at Mavrek Development Adam Friedberg said. “The building has a direct focus on elevated wellness and is designed to highlight the elegance and sophistication of Streeterville, one of Chicago’s most vibrant communities."

At yesterday’s groundbreaking, attendees got a first look at the interior and exterior of The Saint Grand, which will include 248 luxury apartments, 45,000 square feet of office, and 7,500 square feet of street-level retail on the northeast corner, all within walking distance to Lake Michigan and the dining, shopping and entertainment offerings of Michigan Avenue.

“What we’re celebrating today is a symbol of Chicago’s recovery,” Chicago Deputy Mayor of Neighborhood and Economic Development Samir Mayekar said. “This will be the first multifamily property to deliver in Streeterville since the pandemic.The future is bright to invest in Chicago and to invest in this neighborhood.”

2nd Ward Alderman Brian Hopkins attended the event and shared remarks of support and encouragement for the development. 

“This is the last piece of the puzzle [in South Streeterville],” Hopkins said. “Future residents will have the opportunity to live in a beautiful, amenity-filled home with access to everything in the world from culture to restaurants, nightlife, entertainment, jobs, healthcare, all right here.” 

Residential offerings feature a mix of floorplans, from studios to two-bedrooms, with an emphasis on in-unit workspaces and private outdoor space to accommodate post-pandemic preferences. The Saint Grand also offers luxury amenities including an innovative package receiving service, a modern coworking lounge, fitness center and an outdoor pool and deck.  

“The Saint Grand is positioned for great success upon delivery,” CEO and Founder of Luxury Living Aaron Galvin said. With construction underway, designs confirmed, and continued momentum in the downtown Chicago apartment market, we look forward to welcoming new residents in early 2024. The Saint Grand will set a new standard for boutique living in Streeterville.”

In addition to its residential offering, The Saint Grand features two floors of rare, Class-A office space located at the top of the development, fully equipped to provide companies with a modern and integrated work environment, including the latest post-pandemic health and safety elements. In addition to the private outdoor space, office tenants will also enjoy all building amenities as an added benefit. The office will be ready for tenant build out in the third quarter of 2023.

For more information about the project, visit TheSaintGrand.com.