A new residential project that bills itself as a unique lifestyle concept more than just a building is coming to Chicago’s Fulton Market neighborhood. The co-living space QUARTERS will open in May following similar projects in Germany and New York by Berlin-based Medici Living Group.
The concept, aimed at young professionals, entrepreneurs and millennials, provides all-inclusive housing and built-in networking opportunities. QUARTERS also offers startup companies the opportunity to lease an apartment to house its employees who have just relocated or are seeking a community-living lifestyle.
“This new trend in living is not about a single room but about the whole experience,” said Gunther Schmidt, QUARTERS founder and CEO. “The idea of co-living has really taken off worldwide and we think Chicago, with its active startup environment, is the perfect market for this type of living.”
QUARTERS Chicago, located at 171 N. Aberdeen, features 75 modern apartments with 175 quarters. Apartments are offered as a studio or 1-5 bedrooms with a communal kitchen and bathrooms. The building also includes a common kitchen, lounge, outdoor grills, outdoor fireplace, outdoor lounge, skyline bar seating, chaise and cabana loungers and a recreation lounge.
The apartments come equipped with the latest smart home technology with keyless entry and the ability to control private room doors, main entrances, lights, heaters and blinds through a smartphone app. The app also allows tenants to network worldwide, sign-up for community events and book exclusive services.
The property offers flexibility for transient tenants as renters can lease space for as little as three months and only need a 30-day notice to move out. Once in the QUARTERS community, a resident can transfer to other QUARTERS locations. Medici Living Group plans to open new co-living buildings in every major U.S. and European city in the next 12 to 24 months and to expand its offerings in Chicago.
Caton Commercial Real Estate Group, representing Medici Living Group, helped bring this concept to Chicago. The building was developed by MCZ Development. Caton is working with Medici to expand across the central United States and is looking to open new QUARTERS in other areas of Chicago.