Sienna Opening Brings Mid-Rise Luxury Living to Streeterville
Golub & Company and Diversified Real Estate Capital announce the completion of a 50-unit boutique mid-rise rental community in a neighborhood dominated by high-rise towers.
CHICAGO, Sept. 19, 2016 /PRNewswire/ -- Sienna, Streeterville's newest apartment community, is now open—and it brings a long-awaited mid-rise option to this neighborhood dominated by high-rise towers. Chicago-based Golub & Company, together with Diversified Real Estate Capital, announced today that the first residents have moved into the six-story mixed-use apartment community at 423 Ohio Street. Sienna's limited number of boutique rental apartments offer a spacious, contemporary loft design amidst the lively urban Streeterville neighborhood.
"Sienna puts residents in the center of one of Chicago's hottest neighborhoods in a more intimate setting than a typical high-rise building," said Golub & Company President and CEO Michael Newman. "Sienna's relaxed yet upscale approach to city living stands apart in downtown Chicago and will draw new residents, particularly those seeking a non-high-rise option, to this popular area."
Sienna includes five floors of apartments, with 10 residences per floor; the residential floors are complemented by one floor of ground-level retail totaling 5,600 square feet. Open Houses are scheduled for Tuesdays and Thursdays from 5:00 to 7:00 p.m., making a visit to Sienna easy after work.
The one- and two-bedroom floor plans feature oak-tone plank flooring throughout, exposed concrete ceilings, European-style frameless kitchen cabinetry, marble mosaic backsplashes, quartz countertops, stainless steel KitchenAid appliances, porcelain wall and floor tile in bathrooms, in-unit, full-size washer and dryer sets, USB ports in kitchens and bedrooms, and Nest Learning Thermostats.
Sienna's amenities include a rooftop deck with grilling stations and lounge furniture, a fitness center, smartphone video intercom system, automated package pick-up system, bike storage, a dog run and pet grooming station, and Wi-Fi in common areas. The building was designed to meet LEED Silver certification. For more information about features and amenities, including floor plans, visit www.siennachicago.com.
Diversified Real Estate Capital is a joint venture partner in this development, with a team led by Mike Miller and Jeff Cherner, co-founders of Diversified Real Estate Capital. "Our investment strategy calls for multifamily developments in strong urban submarkets, with compelling market positioning," explained Cherner. "We're confident that the Streeterville neighborhood's appeal coupled with Sienna's boutique design will deliver strong investor returns."
The architect for Sienna is Solomon Cordwell Buenz and the general contractor is Walsh Construction. Construction financing was provided by The PrivateBank as Agent and Sole Lead Arranger.
About Golub & Company LLC
Since its founding more than 55 years ago, with three generations of professionals working in the business, Golub & Company has built a strong reputation as a trusted co-investor and developer with its many institutional and private capital partners. It's a reputation based on track record; Golub and its affiliates have owned, leased or managed more than 50 million square feet of commercial, mixed-use and multifamily real estate properties, including 45,000 residential units, valued in excess of $10 billion located across the United States and internationally. Access more information by visiting www.golubandcompany.com.
About Diversified Real Estate Capital
Founded in 2003 by well-known real estate industry leaders Larry Levy, Jeffrey Cherner and Michael Miller, Diversified Real Estate Capital, LLC offers equity capital and expertise for commercial real estate projects. Funding is provided by high-net-worth individuals and family office investors seeking to diversify their assets and earn the significant returns generally associated with high-quality real estate investments. Diversified Real Estate Capital's highly experienced professionals identify prime opportunities and act quickly to creatively structure transactions.
The Company offers its partners real estate expertise in management, renovation, development, financing, leasing and strategic re-positioning to help them realize the highest long-term value on their investments. Diversified Real Estate Capital has owned and/or developed more than $1 billion in commercial real estate transactions. www.DRECapital.com
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SOURCE Golub & Company LLC
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