CHICAGO, IL - City officials joined developers yesterday at an official groundbreaking and rendering reveal for The Saint Grand, Streeterville’s newest mixed-use development. The project is a joint venture between Mavrek Development, GW Properties, Luxury Living, and Double Eagle Development. The 21-story property is being constructed at the corner of Grand Avenue and St Clair. Office tenant build outs are expected later this year, with residential deliveries in early 2024.
“Breaking ground is the next exciting step on a project we’re eager to bring to completion, not only for our joint team of developers, but for the area and its residents as well,” Managing Partner at Mavrek Development Adam Friedberg said. “The building has a direct focus on elevated wellness and is designed to highlight the elegance and sophistication of Streeterville, one of Chicago’s most vibrant communities”.
At yesterday’s groundbreaking, attendees got a first look at the interior and exterior of The Saint Grand, which will include 248 luxury apartments, 45,000 square feet of office, and 7,500 square feet of street-level retail on the northeast corner, all within walking distance to Lake Michigan and the dining, shopping and entertainment offerings of Michigan Avenue.
“What we’re celebrating today is a symbol of Chicago’s recovery,” Chicago Deputy Mayor of Neighborhood and Economic Development Samir Mayekar said. “This will be the first multifamily property to deliver in Streeterville since the pandemic.The future is bright to invest in Chicago and to invest in this neighborhood.”
2nd Ward Alderman Brian Hopkins attended the event and shared remarks of support and encouragement for the development.
“This is the last piece of the puzzle [in South Streeterville],” Hopkins said. “Future residents will have the opportunity to live in a beautiful, amenity-filled home with access to everything in the world from culture to restaurants, nightlife, entertainment, jobs, healthcare, all right here.”
Residential offerings feature a mix of floorplans, from studios to two-bedrooms, with an emphasis on in-unit workspaces and private outdoor space to accommodate post-pandemic preferences. The Saint Grand also offers luxury amenities including an innovative package receiving service, a modern coworking lounge, fitness center and an outdoor pool and deck.
“The Saint Grand is positioned for great success upon delivery,” CEO and Founder of Luxury Living Aaron Galvin said. With construction underway, designs confirmed, and continued momentum in the downtown Chicago apartment market, we look forward to welcoming new residents in early 2024. The Saint Grand will set a new standard for boutique living in Streeterville.”
In addition to its residential offering, The Saint Grand features two floors of rare, Class-A office space located at the top of the development, fully equipped to provide companies with a modern and integrated work environment, including the latest post-pandemic health and safety elements. In addition to the private outdoor space, office tenants will also enjoy all building amenities as an added benefit. The office will be ready for tenant build out in the third quarter of 2023.
For more information about the project, visit TheSaintGrand.com
About Mavrek Development: Mavrek Development, founded in 2010, has quickly grown into one of Chicago’s most active developers. The company got its start building luxury single-family homes and has since scaled their business by focusing on high-quality urban infill multi-family and mixed-use projects. With their dedication to Chicago and collaborative approach in executing complex projects, Mavrek represents the next generation of Chicago developers. To learn more about Mavrek Development, visit www.mavrekdevelopment.com
About GW Properties: Through deep rooted and diverse relationships in the commercial real estate industry, GW Properties has developed an expertise in retail and mixed-use properties. Over the past decade, GW principals have been involved in the brokerage, investment, and development of over $500 million of real estate in the Chicagoland area with a typical deal size ranging from $500,000 to $5 million. GW practices respectful development through its collaborative approach of uncovering opportunities, optimizing value, and enhancing communities. This process has yielded a track record of proven results. To learn more about GW Properties, visit www.gwproperties.com
About Luxury Living: Founded in 2007, Luxury Living is a vertically integrated Chicago based residential real estate company offering boutique brokerage services balanced with best-in-class multifamily consulting, marketing, leasing, and development. The real estate firm aligns renter insights, innovative marketing, and development goals to deliver unbeatable results. Rooted in best-in-class customer service with a seamless showing and leasing process, Luxury Living has captured 35% of all new construction leasing in Chicago and contributed to over $5B in capitalized value for Class A multifamily properties across Chicagoland. Our passion is to empower people to live their best life. To learn more about Luxury Living, visit www.MultifamilyLeasing.com
About Double Eagle Development: Double Eagle Development was founded in 2022 to carry forward the 42-year legacy of Balke Brown Transwestern as a leading developer in the Midwest. The Double Eagle platform was formed to build upon BBT’s strong track record and expand into additional Midwest markets. Since 1979, the team has developed over 7.6M square feet valued at $980 million. To learn more about Double Eagle Development: www.doubleeagle-development.com