The Evanston City Council has approved plans from co-developers Fifield Cos. and Carroll Properties for a 368-unit luxury apartment project in downtown Evanston. Construction is set to begin in the third quarter this year.
“This is an amazing development opportunity in one of Chicago’s premier Northshore communities,” said Steve Fifield, president of Fifield Cos. “This project will help ignite the luxury rental market in an already thriving downtown. It is a win for the City of Evanston and future residents.”
The $148 million development will consist of two buildings at 1881 Oak Ave. and 1890 Maple Ave. in downtown Evanston. The property at 1881 Oak will be 16 stories and 1890 Maple will be 14 stories. The buildings will be connected by a four-story structure that will include three floors of parking and a fourth-floor amenity deck. The majority of the development will be luxury rentals, but the property will also offer 4,000 square feet of ground floor retail space and 12 street-level townhomes along Emerson Street.
Rental units will range from 500 to 1,500 square feet and offer studio, one-, two- and three-bedroom layouts. Amenities will be top-flight in keeping with Fifield’s current luxury apartment developments in downtown Chicago. Units will come equipped with quartz countertops, plank floors, stainless steel appliances and high-end lighting and plumbing fixtures.
The amenity deck will be open to residents of both towers and offer a yoga studio and basketball court, fitness center, lounge area, theater, business center and an outdoor pool and spa with cabanas and grills.
“As one of the most active developers in Chicago’s luxury rental market, we are excited to embark on another trophy-class development,” said Randy Fifield, vice chair of Fifield Cos. “We have delivered a string of best-in-class properties in recent years and we are ready to bring our experience and success to such a wonderful community like Evanston.”
Fifield Cos. recently sold Alta at K Station, an 848-unit class A luxury apartment development, for $302 million in December. The firm also recently began leasing for the 496-unit K2, the final and most luxurious development at the five-building K Station development. Fifield partnered with Wood Partners to break ground on K2 in October of 2011 and topped-off the building this fall.
Located on the north side of the downtown area, the Evanston development will be within walking distance to dozens of dining, shopping and entertainment options. From May through November, the Evanston Farmer’s Market will be held every Saturday in a property adjacent to the future development. Residents will also have immediate access to all of the cultural amenities provided by nearby Northwestern University’s campus.
“As a graduate of Northwestern, Evanston is a very special place for me,” said Randy Fifield. “I couldn’t be happier about lending my professional expertise to the future growth of this city.”
Public transportation offers residents access to the City of Chicago, as the development is within a two-block walk to the Foster stop on the CTA’s Purple line and three blocks to the Main Street station that services both Metra trains and the CTA’s Purple line.
“As our economy recovers, developers are coming back to Evanston,” said Evanston Ald. Ann Rainey. “This is an indication that Evanston is a wonderful place to live and do business. I am excited that this wonderful project has been revived as it will be a boon for our downtown businesses and it will bring a welcome tax boost to our city.”
