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an Existing Real Estate Portfolio
New York, NY
Size: 450 units
Hubbard Place is a 43-story, 450-unit multi-family development in the River North neighborhood in Chicago. In 2011, MEPT committed $75.5 million in a joint venture to build the apartment tower, and the project became shell complete in November 2013.
The property has 378,729 square-feet of rentable living space with nearly 400 parking spaces and many attractive amenities. At the end of 2013, Hubbard Place began its initial lease-up phase and achieved 35.6% leased by year end with strong interest from young professionals. The property is now more than 90% leased.
The building is centrally located with proximity to many of Chicago’s major downtown employment hubs including North Michigan Avenue, LaSalle Street, and the West Loop, and multiple transit options are within walking distance.