AMLI Residential received a big response to tiny apartments after creating the smallest-unit building in the firm’s nationwide portfolio. The 18-story tower opened last year in Chicago’s River North neighborhood.
The project: AMLI Residential developed the 18-story, 318-unit apartment tower AMLI 808 at 808 N. Wells St. The Chicago-based firm sought to create a building ideal for young renters who want to spend more time in other parts of the building or out and about in the city — and less time in their own residence. With units as small as 383 square feet, and averaging 545 square feet, it’s the smallest-unit building for the developer with projects throughout the country.
Shared spaces: About 80% of the apartments are micro-units. There is an emphasis on amenities such as coworking areas and gathering spots, such as the 17th-floor pool and outdoor deck. Private offices on the 18th floor are for rent by the month, creating another option for remote work space that is separate from living space. Dollop Coffee and Egg Harbor Cafe are retail tenants.
Transit oriented: With proximity to multiple Chicago Transit Authority train lines and one of the city’s busiest bike lanes, the project includes an unusually low ratio of parking spaces — 16, including two taken up by ZipCars — but storage space for every resident to own a bike. AMLI said it also is negotiating with the city to add a Divvy shared bike station at the corner of the property.
Why it matters: The project’s emphasis on public transit, community spaces and small units quickly came into question when COVID-19 shut down offices, restaurants and other spaces days after the March 2020 groundbreaking. AMLI opted to forge ahead and make minor tweaks, such as replacing some storage space with built-in desks in dozens of units. “There was concern and nervousness, but AMLI is very focused on market data,” community manager Beric Wessely said. “We trusted our gut and research and decided to carry on and deliver this product.”
On time: Because AMLI had preordered construction materials, the project was not affected by shortages — including appliances, windows and countertops — that plagued many developers and builders early in the pandemic. The project was completed in about 16 months, making it one of AMLI’s fastest ground-up developments.
The team: The general contractor was the Walsh Group. NORR and HPA Design worked together on the architecture and interior design.
What’s next: The building was 27% preleased, and it’s now 91% occupied. AMLI said it expects the tower to be fully leased by July 1, a year after the first residents moved in. AMLI is now building a podcasting and influencer studio for residents who post content on platforms such as TikTok and Instagram.
What they’re saying: “If you have a luxury Mercedes-Benz that you need to park and you want a large amount of space in your apartment, this probably isn’t the place for you,” Wessely said. “We’re finding that the young, hip work-from-homer is the exact demographic that we’ve hit. They’re people looking to spend less time in their unit and more time out in the neighborhood.”
Fun fact: The average age of residents is 27, with 65% of them between the ages of 18 and 26.
CoStar’s Impact Awards highlight the commercial real estate transactions and projects that have transformed their markets over the past year. The winners are chosen by independent panels of industry professionals who work in the markets they judge. A list of judges can be found here and the criteria for selecting winners can be found here.