Albion Residential, a Chicago-based firm specializing in the acquisition and development of luxury rental apartments, completed its first-ever branded development, the Albion Oak Park. Located at 1000 Lake Street in Oak Park, Illinois, the property features 265 high-end units and 7,000 square feet of retail on the ground floor.
The project was developed in partnership with Willton Investment Management and funded by CIBC and Associated Bank. The property is managed by Southfield, Michigan-based Village Green. Clark Construction served as the general contractor.
“Albion Oak Park was designed to deliver an environment that combines the best of what the city and the suburbs have to offer in a unique, yet vibrant community,” said Albion’s vice president of development, Andrew Yule. “We are grateful to our partners, as well as the Village of Oak Park, for helping us bring this vision to life. With our resident-centric services and focus on community integration, Albion Oak Park introduces a new level of living.”
Apartments at the Albion Oak Park range in size from studios to three-bedroom units. Amenities include a dedicated concierge and 20,000 square feet of usable outdoor space including a rooftop lounge and terrace, outdoor chef’s kitchen and resort-style pool with private cabanas. Additional features include a wellness center, podcast studio, pet spa and indoor dog run. Residents have access to a Club Room, outfitted with a kitchen, shuffleboard, video games, six televisions and more for entertaining, as well as a Frank Lloyd Wright lounge, which provides an atmosphere ideal for reading, studying or working from home. The community also offers an interactive, hotel-style 7,000-square-foot lobby that is open to the general public.
“We have been very pleased with the professionalism of the entire Albion team and we are proud to be a part of this phenomenal development. This is certainly the highest quality multifamily project in Chicago suburbs and we look forward to many future projects with Albion,” said Navish Chalwa, director of acquisitions at Willton.