Albion Residential Completes First Branded Luxury High-Rise Apartment Development in Illinois
19-story apartment building features 20,000 square feet of usable outdoor space, 7,000 square feet of retail
Nov 22, 2019, 11:05 ET
OAK PARK, Ill., Nov. 22, 2019 /PRNewswire/ -- Albion Residential, a Chicago-based firm specializing in the acquisition and development of luxury rental apartments, completed its first-ever branded development, the Albion Oak Park. A high-rise rental development, the newly opened property enhances the residential experience with the creation of a collaborative community and luxury-driven amenities in a transit oriented location in this top tier Chicago suburb.
Located at 1000 Lake Street, Albion Oak Park features 265 units ranging from studios to three-bedroom apartments with a dedicated concierge. Anchored by 7,000 square feet of retail on the ground floor, its architectural structure perfectly complements the community's high-end services and offerings with layouts and amenities varying by floor.
Amenities include 20,000 square feet of usable outdoor space including a rooftop lounge and terrace, outdoor chef's kitchen and resort-style pool with private cabanas. Additional features include a wellness center, podcast studio, pet spa and indoor dog run. Residents have access to a Club Room, outfitted with a kitchen, shuffleboard, video games, six televisions and more for entertaining, as well as a Frank Lloyd Wright lounge, which provides an atmosphere ideal for reading, studying or working from home. The community also offers an interactive, hotel-style 7,000-square-foot lobby that is open to the general public.
"Albion Oak Park was designed to deliver an environment that combines the best of what the city and the suburbs have to offer in a unique, yet vibrant community," said Albion's Vice President of Development Andrew Yule. "We are grateful to our partners, as well as the Village of Oak Park, for helping us bring this vision to life. With our resident-centric services and focus on community integration, Albion Oak Park introduces a new level of living."
Albion Oak Park was developed in partnership with Willton Investment Management. "We have been very pleased with the professionalism of the entire Albion team and we are proud to be a part of this phenomenal development. This is certainly the highest quality multifamily project in Chicago suburbs and we look forward to many future projects with Albion," said Navish Chalwa, Director of Acquisitions at Willton.
A grand opening celebration on November 13 featured executives from Albion Residential and local dignitaries, including Oak Park Mayor Anan Abu-Taleb and Oak Park trustees.
Albion Oak Park was developed in partnership with Wilton Investment Management and funded by CIBC and Associated Bank. The project is managed by Southfield, Mich.-based Village Green. Clark Construction served as the general contractor.
For more information on Albion Oak Park, visit www.albionoakpark.com.
About Albion Residential
Chicago-based Albion Residential is focused on the acquisition, development and operation of luxury rental apartment communities across the Midwest. Owned by Compatriot Capital, Albion Residential prioritizes the resident's experience by building comfortable, social and interactive environments. Its projects represent the best-in-class across all design, style and functional components. For more information on Albion Residential and its communities, visit www.albion-residential.com.
About Willton Investment Group
Willton Investment Group is a New York City based real estate office focused on multifamily investment across the United States. The firm focuses on joint ventures with high caliber sponsors who have a proven track record for success. For media inquiries or to learn more about Willton Investment Group, please visit www.willtongroup.com.
SOURCE Albion Residential
