Ascend Real Estate Group Finds its Niche in Near North

Left to right: Robert Van Deven, vice president, Power Construction Company; William J. Wolk, president, Ascend Real Estate Group; Jim Glosson, superintendent, Power Construction Company; Patrick O’Connor, construction manager, Intercontinental Development Inc.; Walter A. Rebenson, CEO, Ascend Real Estate Group; and Joseph Salamone, principal, Ascend Real Estate Group (Courtesy of Ascend Real Estate Group)

The rapid re-population of the greater Carbrini Green area is getting a boost from its newest skyscraper — Niche 905 at 905 North Orleans Street.  Technically, 905 is just across the street from the Cabrini border, in the Near North Side neighborhood, but it contributes to the growing vitality of this neighborhood’s modern-day renaissance.

Niche 905 under construction (Courtesy of Ascend Real Estate Group)

Niche 905’s ceremonial topping-out event was held recently, as the 18-story building reached its maximum structural height.  It’s a project of Ascend Real Estate Group, designed by friends-of-the-blog FitzGerald Associates.  If you commute on a CTA Brown or Purple Line train, then you’ve been able to watch it grow right alongside the tracks a few blocks north of the Chicago Avenue station.

Of interest is the fact that the building has several three-bedroom units.   Developers in Chicago and elsewhere have been putting larger units in their buildings.  Ascend says its three bedroom units are for families that want to grow, but not leave the city.  Other developers have told us that their three-bedroom units are for high-tech immigrants on H1B visas who also bring their extended families with them.

You can read Ascend’s press release below.

Rendering of Niche 905 (Courtesy of Ascend Real Estate Group)

 

Ascend Tops Off Niche 905 Luxury Apartment Tower on Chicago’s Near North Side

Construction on 202-unit high-rise at 905 N. Orleans several months ahead of schedule

Ascend Real Estate Group and Intercontinental Real Estate Corp. today announced the topping-off of Niche 905, an 18-story, 202-unit luxury rental tower under construction at 905 N. Orleans St. Ascend and Intercontinental Real Estate Corp. celebrated the milestone at a June 23 ceremony, where they were joined by representatives from FitzGerald Associates Architects, the project’s design architect; Power Construction, general contractor; and other members of the development and construction team.

“In addition to marking a major construction milestone, the topping-off of Niche 905 is also symbolic, representing the rise of a new retail and residential corridor along Orleans Street,” said Walter Rebenson, CEO of Ascend Real Estate Group. “We are pleased to show off the progress of the tower, which when finished will fill a ‘niche’ in the market by offering a fresh, truly luxury high-rise rental option in a highly accessible location that bridges the gap between Old Town, River North and the Gold Coast.”

Designed for LEED® certification, Niche 905 broke ground in November 2015, with delivery scheduled for April 2017. Pre-leasing is slated to begin later this year. Upon completion, the tower will offer spacious studio, one-, two- and three-bedroom apartments – many with views of Lake Michigan and the downtown skyline.

Residences will showcase a range of high-end finishes including plank flooring throughout all bedrooms and living areas, as well as gourmet kitchens featuring Euro-style cabinetry with undermount lighting, quartz countertops and glass tile backsplashes. In addition, apartments will feature 9-foot ceilings, private balconies and in-unit laundry, and be outfitted with USB ports and fiber optic internet service capable of reaching speeds of 1 gigabyte per second – more than 100 times faster than the industry standard.

“Throughout downtown and especially in a tech hub like the Near North Side, we’re seeing unprecedented demand from young professionals who want to live close to the office, have the ability to work from home and be able to walk to restaurants and stores,” said Rebenson. “It’s not enough to have the latest amenities – because renters are spending more time in their units and, in many cases, leasing them for longer periods of time, they want the level of finishes to be on par with the rest of the building, and Niche 905 was designed to exceed those high expectations.

“Due to the demand from families, we’ve also added three-bedroom units that have become increasingly popular as more young couples forego homeownership in favor of renting,” added Rebenson. “They’re also ideal for empty nesters in search of maintenance-free urban living.”

In addition to luxury residences, the tower will offer 24-hour concierge service, as well as a full suite of amenities, located on the ground and penthouse levels of the tower. They include a rooftop pool, spa and sundeck; indoor and outdoor bar, grilling stations and fire pit; community garden; dog run and pet wash station; and bike workshop. Residents will also have access to a state-of-the-art fitness center with yoga studio; private party room with full-service kitchen, bar and big-screen HDTVs; spacious lobby with workstations and sitting areas; coffee bar; and fully equipped business center and conference room. In addition, the tower will include 1,750 square feet of ground-level retail, parking for more than 150 vehicles and storage for 110 bikes.

Located a half-mile north of the Ohio Street feeder ramp, Niche 905 will offer residents convenient access to the Kennedy Expressway, as well as several major bus and rail lines. The tower is four blocks from the Chicago Brown/Purple Line station and also within walking distance of the Chicago Red Line station at Chicago Avenue and State Street.

Situated in the rapidly emerging tech triangle formed by the West Loop, River North and Goose Island, Niche 905 is steps from several major employment centers, including the Merchandise Mart, which recently completed a $40 million renovation.

“The unparalleled accessibility of this location is what sets Niche 905 apart, allowing residents to bike, ride or drive directly to their destination without having to spend additional time getting to the nearest expressway or public transit station,” said Rebenson. “Of course, the tower will also facilitate a highly walkable lifestyle, with high-quality jobs, parks and some of the city’s top shopping, dining and nightlife destinations just steps away.”

from Chicago Architecture http://www.chicagoarchitecture.org/2016/06/27/ascend-real-estate-group-finds-its-niche-in-near-north/