Sub. Developers Looking for Empty Nesters

CHICAGOMorningside Group and Crossroads Development Partners broke ground yesterday on NorthShore 770, a mixed-use luxury apartment complex and retail center in suburban Northbrook that the co-developers say will be the first-of-its-kind in the area. The project will combine 347 mid-rise rental apartments and more than 100,000-square-feet of retail outlets, including a Marianos grocery store, Panera Bread, PNC Bank, Chipotle and many others. And the developers say this type of project should become more popular in the future.

Our number one demographic is the empty nester, David Strosberg, president and managing principal of the Chicago-based Morningside Group, tells GlobeSt.com. And one of the things these residents value most these days is the chance to live in a walkable area. The Marianos will be less than a block away, and anyone who wants a coffee and croissant in the morning can walk over to Panera in a few minutes.

If you draw a 3-mile radius around our property, he adds, it takes in the most affluent communities in the Chicago area, and the developers expect that many residents will have other homes, perhaps in the Sunbelt, and only spend a few months out of the year in Northbrook. Grandparents who live at NorthShore 770, for example, can visit their families that live nearby without the expense and trouble that comes with owning and maintaining a single-family home.

Located at 770 Skokie Blvd. on the corner of Dundee Rd., the site is close to popular attractions like Ravinia and the Chicago Botanic Garden. The developers plan to open the retail component in summer 2015 and the apartments in winter 2016.

Strosberg hopes to attract many other groups besides the older empty nesters. Our number two demographic is divorced dads; we think there are a lot of them on the North Shore that want to remain close to their kids. Furthermore, he expects that the young professionals who work in the many corporate headquarters in the region will also find the communitys convenient lifestyle quite appealing.

Upon completion, the midrise building will feature two landscaped courtyards; a heated outdoor pool and sundeck; bocce ball court; secure dog park; outdoor lounges with free WiFi; putting green and golf simulator; four outdoor fire pits; eight semi-private cabanas with 10 stainless steel barbeque stations; theater room with wet bar and free movie and television streaming service; business center and conference room; fitness center with yoga and Pilates studio space; and a community room.

Many of these luxury amenities arent even available in downtown Chicagos newest apartment towers," Srosberg says. "Nothing of this scale has been attempted in the suburbs before. In addition, there has not been any significant multifamily rental construction within that three-mile radius in a very long time. NorthShore 770 is sure to be the most in-demand luxury apartment development in the area.

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Sub. Developers Looking for Empty Nesters