Preferred Real Estate Investments, Inc.
3,000 + Units
Chicago, Illinois

This traditional-style neighborhood along Chicago’s lakefront at 87th Street reclaims and revitalizes an abandoned manufacturing area, providing a variety of housing types, as well as retail, commercial and light industrial uses. Bounded by Lake Michigan to the east and the Calumet River to the south, the 117-acre parcel is approached from the west via 87th Street, through a Chicago district undergoing redevelopment and renewal. The entrance to the neighborhood will feature a community center with convenience retail, profession offices and restaurants, designed in a style reminiscent of Chicago’s historic park pavilions. A boulevard system recalling the city’s 1909 Burnham Plan will reinforce the traditional neighborhood design and feature a long-established pattern of streets, blocks and alleys that will support a variety of housing types, ranging from single-family, two, three and six-flat layouts as well as townhouse, mid-rise and high-rise configurations. Green parkways will link the interior of the neighborhood to the waterfront edges. Continuing the city’s traditional development patterns, high-rise residential towers are envisioned along the neighborhood’s eastern boundary, overlooking a proposed park, a marina and providing stunning views of the Chicago skyline. Active and edgy loft-style condominiums along the riverfront are designed to appeal to a youthful demographic. Twenty-two acres on the site’s western edge will be retained for light industrial and commercial uses, including boat storage and maintenance. Overall, the development is expected to provide approximately 3,150 units of housing, plus 80,000 s.f. of retail, professional office and restaurant space.