Greystar Development One Six Six Tops Out at 21 Stories

CHICAGO , July 22, 2022 /PRNewswire/ -- Greystar, a global leader in the investment, development, and management of high-quality rental housing properties, announced that its first Chicagoland high-rise development project, One Six Six, at 166 N. Aberdeen St. has topped off at its maximum height of 21 stories.

"This is a great milestone for Greystar and our entire project team," said Christine Kolb, Greystar Midwest Sr. Director of Development. "We are thrilled to join the dynamic fabric of the Fulton Market neighborhood, and contribute much needed housing, including on-site affordable units, to the community and city of Chicago. One Six Six will be a fantastic complement to the area's substantial office and hotel development and will provide residents walkability to some of the best live/work/play amenities in the city."  

Greystar is working with two well-known firms to bring this project to fruition.

Lendlease is overseeing the construction of the 21-story high-rise that will include 223 apartments – floor plan options include studios, convertibles with a wingwall separating the bedroom, one- and two-bedrooms as well as penthouses. Apartment homes range from 415-1903 sq. ft., are open concept with two-tone custom cabinetry and are designed for work-from-home. The Sky Garden on the 14th floor headlines the community's amenities. The third-floor amenity level has a 5,650 sq. ft. outdoor deck that is home to a hotel-style pool and spa club, lawn, grills, and a dog play area with direct access to the co-working and fitness areas.

"We are extremely proud to see the product of our first construction partnership with Greystar coming together to further shape the iconic and highly coveted Fulton Market area of Chicago," said Kinjal Patel, General Manager of Construction, Chicago at Lendlease. "Together with the design creativity of SCB Architects, and all other partners and tradespeople, our diverse team has strived to create a best-in-class building with an innovative and sustainable approach representative of the neighborhood and its residents."

Architect, planning and design firm SCB will help bring to life a building that includes a nod to the area's warehouse past while also looking to the future with a metal articulated tower about the historic warehouse-like masonry base. Greystar, Lendlease and SCB are utilizing sustainable techniques and plan on seeking Green Globe certification.

Formerly Chicago's meat-packing district, Fulton Market has seen prolific development of restaurants, hospitality and office space in the immediate area with companies like Google, GlassDoor and Dyson as some of the first initial tenants. The market has evolved to a very dynamic mix of firms that now includes marketing, design, advisory services and food service. The area has been historically undersupplied with housing — One Six Six will alleviate some of the dearth of supply.

Additionally, Greystar and Lendlease are giving back to the community in other ways through a $10,000 donation to the Revolution Workshop, a non-profit that provides construction and woodworking development for unemployed or underemployed people to help them achieve financial independence and develop a career based on the skills they learned. Greystar's Midwest development division is particularly passionate about providing charitable support to organizations that benefit construction-related training and career path opportunities — Revolution Workshop is a perfect fit.

Construction on One Six Six began in October 2021. Anticipated delivery of first units will happen in early 2023.

Visit onesixsixchicago.com for more information and to sign up for the VIP list to receive pre-leasing information as soon as it's available.

Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates approximately $230 billion of real estate in 215 markets globally including offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages more than 754,000 units/beds, and has a robust institutional investment management platform with more than $49.9 billion of assets under management, including $22.6 billion of development assets. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.

Lendlease (www.lendlease.com) is a leading global real estate group with operations in Australia, Asia, Europe and the Americas. Our purpose is to create value through places where communities thrive. Headquartered in Sydney, Australia, and listed on the Australian Securities Exchange, Lendlease has approximately 8,200 employees internationally. Our core capabilities are reflected in our operating segments of Development, Construction, and Investments. The combination of these three segments provides us with a sustainable competitive advantage and allows us to provide innovative integrated solutions for our customers.

SOURCE Greystar