Rental “Ahead of Schedule” at Highpoint at 8000 North
SKOKIE, IL – A downtown Skokie apartment building developed through a public-private partnership with the village is on track to be fully leased at higher-than-expected rents by the end of the year , according to its promoter.
The 12-story mixed-use development includes 153 residential units and over 10,000 square feet of unleased commercial space.
Developer John Murphy said there will be multiple retail tenants in the building, possibly including restaurants, a cafe or a clothing store.
“We are currently talking with several prospects, but I think we are closing in on a few of them, and we may make an announcement to that effect,” said Murphy, president and CEO of Murphy Realty Services.
Studio rents start at $1,750, with one-bedroom units starting at $2,095, two-bedroom units starting at $2,950 and three-bedroom units starting at $4,395, according to the development’s marketing materials. .
“We are well ahead of the originally projected rental schedule,” Murphy told Patch, “at rates that are also significantly higher than our initial projections.”
Village officials gathered for a ribbon cutting at the site earlier this month, nearly four years after they held a groundbreaking ceremony there. The project originally had a different developer and an expected completion date of late 2019.
Murphy, who took over the project from Greenspire Capital, Pontarelli & Co. and Hoffman Homes in 2020, declined to say how many units have been rented or how many residents have moved in so far, although a property manager in spoke to Pioneer Press. 20 percent apartments in the building were already rented.
The project was designed by architect Lucien Lagrange, who said the decision to place the development’s above-ground car park was a key part of the design. The developer has the option to purchase the city-owned five-story parking structure after 10 years.
The building’s facilities include a rooftop garden, dog play area, gym and “designer lounges for entertaining, working or relaxing”, according to its website. There is no attendant at the front door, although there is controlled access to the building and on-site management.
“Demand for a luxury apartment product similar to what you would see in downtown Chicago has continued to grow in the suburbs,” said Aaron Galvin, director of Luxury Living Chicago Realty, the company responsible for the marketing and rental of the property.
“Highpoint at 8000 North meets demand with its rooftop views, excellent location and luxury finishes designed for today’s modern tenant,” he said in a statement.
Building management allows up to two pets per resident for a one-time non-refundable fee of $500 per pet, plus $20 per month per dog or cat. According to Sabrina Wottereng, spokesperson for Luxury Vivre Chicago Realty.
Lagrange, the architect of the building, said his design which he came up with brings something new to the village.
“The facade evokes a sense of permanence and security,” he said. “[It is] punctuated by orderly residential windows and traditional details executed with a modern twist. The consistent use of color in the building’s rounded corners, retail awnings and crown at roof level add a dynamic contribution to Skokie’s new image.”