Related Midwest Unveils Adler Place with New Models, Redesigned Amenity Spaces

Launch of condo tower coincides with 50-percent-sold milestone across Related’s South Loop Luxury collection

(CHICAGO) December 2, 2013 – With half of the 500 condos in its South Loop Luxury by Related collection already sold, Related Midwest announces the unveiling of Adler Place, the last in the trio of previously stalled South Loop condo towers to be re-launched by the developer.

Located at 1629 South Prairie Avenue in the South Loop’s historic Prairie Avenue District, Adler Place is a 32-story condo tower overlooking Soldier Field, the Museum Campus, Burnham Harbor and the Lakefront. As with the other buildings in its South Loop Luxury collection (Harbor View at 1901 South Calumet, and The Grant at 1201 South Prairie), Related Midwest has fully redeveloped Adler Place by introducing a new suite of finishes in available ‘white box’ units and redesigning common areas and amenity spaces.

“When we launched the South Loop Luxury collection this spring, we were confident these three buildings would answer an unmet demand for new-construction condos in Chicago as the housing market rebounded,” said Curt Bailey, president of Related Midwest. “That has proven to be the case, and we’re proud to say we’ve already sold more than 250 of the 500 condos in the collection since the beginning of the year. With very little new supply on the market to meet buyers’ growing confidence, the time is definitely right to unveil Adler Place as the newest option for buyers in one of the city’s most desirable neighborhoods.”

While sales have been underway at Adler Place on a limited basis since the introduction of the full South Loop Luxury collection this spring, the official launch of the building means prospective buyers can now tour floor plans and see finishes in three new decorated models designed by Patrick McGuire. The models, which feature one-, two- and three-bedrooms plans, showcase the refined finishes included in Related’s Signature Residences.

According to David Wolf, president of sales for Related Midwest and president of Related Realty, which is handling sales and marketing for the South Loop Luxury collection, Adler Place stands apart from the already limited new-construction inventory available in the neighborhood. “We know the South Loop market inside and out, and there’s really nothing that compares to the design details and finish quality in our Signature Residences,” he said. “We considered every detail, from the wide-plank flooring to the Snaidero cabinetry, and made sure it was something far and above what other condos in the area offer.”

In addition to offering a new suite of interior finishes in individual residences, Related has fully redesigned the building’s common areas and amenity spaces, including the lobby, corridors, and an entertainment suite on the 32nd floor with a full kitchen and access to an outdoor pool and grilling area.

“These are the spaces that set the tone in any building, and at Adler Place we wanted to reflect the modern, refined aesthetic today’s buyers appreciate,” said Bailey. “Now, the common areas are just as incredible as the residences, and surpass people’s expectations. For example, the amenity floor of this building already had show-stopping views of Soldier Field that make you feel like you’re in the stadium. But now the design of the amenity floor is as attractive and appealing as its view.”

Adler Place also features an outdoor rooftop pool and sundeck, as well as a full fitness center with sauna and hot tub. The building is dog-friendly, with an on-site dog run.

The building’s 275 residences measure 900 to 1,582 square feet and have one to three bedrooms, one to two baths and dens, per plan. Signature Residences feature thoughtfully selected modern finishes, including wide-plank engineered wood floors, a spa-inspired master bath with natural stone tile and custom Snaidero teak vanity, and a chef’s kitchen with quartz countertops, professional stainless steel appliances and custom Snaidero cabinetry including teak base cabinets paired with glossy white upper cabinets.

Buyers can also choose from available Classic Residences, which feature elegant luxury finishes including wood cabinetry, granite countertops and professional Kitchen Aid or GE appliances in the kitchen, and natural stone or porcelain tile flooring, marble countertops and a soaking tub in the master bath.

Residences at Adler Place are priced from the mid-$200,000s to the $600,000s. Pricing includes deeded parking in a private, heated garage.

To assist in the home buying process and a seamless closing, Related Midwest has partnered with Wintrust Mortgage, which has pre-qualified the South Loop Luxury by Related buildings and is offering competitive end-loans for purchasers.

For information on Adler Place and the South Loop Luxury by Related collection, call the Related Realty Sales Team at (312) 662-1900 or visit www.AdlerPlaceChicago.com. The sales center for the South Loop Luxury by Related Collection is located at The Grant (1201 South Prairie Avenue) on the 23rd floor. It is open Saturday and Sunday from 12 to 4 p.m. and by appointment Monday through Friday.

About Related Midwest
Related Midwest, the Chicago office of Related Companies, is the preeminent Chicago developer of luxury condominium and rental homes, affordable housing and unique mixed-use properties since 1988.  Recognized for its innovative, market-defining developments, Related Midwest creates properties of enduring value such as 340 on the Park, the first LEED-Silver residential tower in the Midwest. Currently the most active player in Chicago development, Related Midwest has two ultra luxury rental developments totaling more than 1,000 residences in downtown Chicago: 500 North Lake Shore Drive (currently leasing) and 111 West Wacker Drive (opening Summer 2014). The firm is also marketing South Loop Luxury by Related, three marquee South Loop condominium properties. Among Related Midwest’s successes in the downtown Chicago area are The Residences on Lake Shore Park (comprising 840 Lake Shore Drive, The Pearson, and The Belvedere), the Park Hyatt Hotel and Park Tower Condominiums at 800 N. Michigan Avenue, and 340 on the Park at 340 E. Randolph Street.

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