CHICAGO, Oct. 31, 2018 /PRNewswire/ -- Common, the nation's leading residential brand enhancing the quality of living for members and value of real estate for partners through convenience and community, today announced a partnership with CityPads on the largest coliving home in Chicago and in the Midwest. The project, Common Addams, is Common and CityPads third partnership on coliving homes in Chicago, and marks Common's fourth building in the city.
"Common Addams signals our reinforced commitment to Chicago, where our partnership with CityPads solidifies our expertise as the largest coliving operator in the Midwest by both bed and building count," said Sandy Albert, Senior Director of Real Estate at Common. "This home will triple the number of Common members in Chicago, providing a stress-free, all-inclusive living environment to even more urban dwellers who crave our signature community and convenience."
The four-story new development will feature 223 beds with views of the Chicago skyline and more than 5,000 square feet of shared community spaces for members to enjoy, including a gym, movie room, member lounges, a wet bar, communal dining areas, bike storage, package storage, 59 on-site parking spaces, and a furnished roofdeck. The home is located directly across the street from Addams/Medill Park, with a new recreation center slated to open in 2019 bringing indoor basketball courts, a track, and more, in addition to new outdoor sports fields and trails across the nine-acre park.
"I'm looking forward to bringing Common Addams to life in one of Chicago's fastest growing neighborhoods, Pilsen, where nearly $1 billion is being invested towards urban infrastructure improvements," said Andy Ahitow, Founder of CityPads. "Our partnership with Common has been an astounding success, and I'm excited to continue providing a place where Chicago residents can find true value and community where they live."
Rent prices at Common Addams are planned to start at approximately $975 per month, which is one bill that includes all utilities, high-speed wi-fi, furnished apartments, weekly cleanings of common spaces, shared supplies, and hospitality-grade amenities.
Common opened its first Chicago home in 2017, and over the next two years is on track to have close to 500 beds in the city meeting their high consumer demand of 1,400 nationwide applications per week. Common's current Chicago portfolio includes Pilsen's Common Racine, the Ukranian Village's Common Damen, Lakeview East's Common Briar, and Wicker Park's upcoming Common Maplewood, another CityPads partnership. Common Addams is located in both Enterprise and Opportunity zones, and is expected to open in 2020.
For more information about Common, visit www.common.com.
Common is the nation's leading residential brand enhancing the value of real estate by offering convenience and community to our members through coliving and traditional apartments. Our signature approach to end-to-end property management and technology offerings allow us to deliver unparalleled experiences across 20 buildings, 6 cities, and over 650 members. Common is the preferred choice for both residents looking for a stress-free and all-inclusive living environment, and for real estate owners seeking reliable, above-market returns. Launched in October 2015, we now operate homes in New York City, Chicago, San Francisco, Oakland, Seattle, and Washington, D.C. and receive over 1,400 new member applications per week. For more information, visit www.common.com and follow us on Instagram @hi.common.