Around Rogers Park: Elevation Lofts Leasing Up
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- Category: Latest News
RPBG Director and developer, Jay Johnson, reports that his Elevation Lofts building at 1531 West Howard Street is now complete and well on its way to achieving full occupancy. As last reported, the building has leased 27 of 38 units (71%) and continues to generate traffic and interest.
Elevation Lofts offers a wide mix of floor plans, from studios to three-bedroom units. The building contains eight (8) studios; 13 one-bedroom units; 12 two-bedroom/one bath units; three (3) two-bedroom/two-bath units; and two (2) three-bedroom/two-bath units. Rents range from $1,150 to $3,200. Building amenities include a roof deck with city and lake views, a community room, a conference room, and a fitness center. The ground floor level also has 2,930 square feet of commercial space.
Just a few months earlier, things did not look as promising. The building experienced unexpected water damage last winter due to contractor error, requiring considerable replacement of drywall and other repairs. Then, just as the building was ready to open its doors, the pandemic struck.
But good design and the right marketing and pricing strategy show that Rogers Park remains a desirable community with ready demand for modern, well-appointed rentals. Jay is pleased with the leasing activity, particularly in light of the economic turmoil the city and the country have experienced in the wake of the pandemic. Jay hopes to be full sometime during Q3 of this year.
