OAK BROOK, ILL. One Oak Brook Commons, a new, luxury rental community, announces it has surpassed the 50 percent leased milestone. The upscale 17-story, 250-unit apartment building is located at 2150 McDonald Drive in the heart of downtown Oak Brook, Illinois and offers studio to three-bedroom penthouse floor plans.
We have been thrilled with the market’s reaction to One Oak Brook Commons. The unit finishes and community amenities have set a new standard in the area for luxury apartments,” said David Bach, Managing Director at Hines. “The building also offers direct walkability to Oakbrook Center’s premier dining and shopping, as well as easy access to top-tier golf courses, parks, polo fields, and employment centers.”
“There is significant and increasing demand for One Oak Brook Commons, as exemplified by its speed to achieve this milestone,” said Aaron Galvin, Luxury Living Chicago Realty’s Founder and CEO. “The luxury apartment building began pre-leasing in late 2021 and has achieved the highest rental rates in the suburbs. This quality of rental product has never been available in the western suburbs. We are attracting a diverse renter demographic from neighboring communities, downtown Chicago and quite a few out-of-state renters relocating for jobs nearby.”
Designed by Antunovich Associates and developed by Hines, One Oak Brook Commons is Oak Brook’s first luxury rental residential building. The high-rise sits at the center of Oak Brook Commons, a new mixed-use community featuring its own expansive selection of restaurants, retail, creative office space, medical office space, and a vibrant new park called “The Pitch.” All 250 units feature high-end modern finishes, including quartz countertops, under-cabinet lighting, wide-plank flooring and walk-in closets with modular systems. The development also offers residents downtown-quality community amenities, including an elevated pool deck, club-style fitness center, party room, indoor sports lounge with a golf simulator, and dog run. First move-ins occurred in January 2022. Today pricing for one-bedroom units starts at $1,995 per month. Two-bedroom unit pricing begins at $2,995 per month, while limited three-bedroom units are available starting at $5,495 per month.
Potential renters also have the opportunity to take advantage of exclusive lease incentives on select units.
The team responsible for bringing One Oak Brooks Commons to market is composed of the development team at Hines, management support from Willowick Residential, as well as leasing and marketing expertise from Luxury Living Chicago Realty.
About Hines: Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 285 cities in 28 countries. Hines oversees investment assets under management totaling approximately $90.3 billion¹. In addition, Hines provides third-party property-level services to 373 properties totaling 114.2 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,530 properties, totaling over 511 million square feet. The firm currently has more than 198 developments underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information. Includes both the global Hines organization as well as RIA AUM as of December 31, 2021.
Luxury Living Chicago Realty: Founded in 2007, Luxury Living Chicago Realty has unparalleled experience marketing and leasing luxury multifamily properties in Chicago. Our team provides best-in-class customer service with a seamless showing and leasing process. With our extensive knowledge of the Chicago real estate market, our leasing professionals provide invaluable insight. We are able to understand the renter's needs and priorities and are happy and fulfilled in helping to find the perfect new home. Our passion is to empower people to live their best life. To learn more about Luxury Living Chicago Realty, visit www.luxurylivingchicago.com.
Willowick Residential: Willowick Residential, a subsidiary of Hines, the international real estate firm, is a multifamily property management firm. The firm was founded to provide a tailored, bespoke alternative for asset/property management. Willowick is small and agile but powered by a significant amount of experience and a commitment to being the best in an industry ready for a premier service provider. Launched in early 2020, Willowick Residential is currently managing the following Hines properties: Maple Terrace and The Victor, Dallas; Venue Museum District and Tinsley on the Park, Houston; Wolf Point East and Wolf Point West, Chicago; One Oak Brook Commons, Oak Brook, IL; The Rosemary, Tomball, TX; Stone Loch, Humble, TX; and Alys Crossing, Cypress, TX. Visit www.willowick.com for more information.