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Pre-Leasing Underway at 61 Banks Street in Chicago’s Gold Coast

Boutique building brings expansive luxury apartments to neighborhood’s last undeveloped lakefront parcel

CHICAGO – (February 4, 2019) – Draper and Kramer, Incorporated, today announced that pre-leasing is underway for 61 Banks Street, an eight-story, 58-unit boutique rental building at Banks Street and Lake Shore Drive that fills the last undeveloped lakefront parcel in Chicago’s premier Gold Coast neighborhood. First move-ins are expected to take place this May.

“Chicago’s Lake Michigan frontage between Oak Street and North Avenue is one of the city’s most iconic destinations for lakefront living, but there hasn’t been a new residential building constructed along this stretch of Lake Shore Drive since the early 1980s,” said Todd Bancroft, president and CEO of Draper and Kramer, the project’s developer. “With 61 Banks Street, we had a truly one-of-a-kind location where we wanted to create a building that evokes the timeless appeal and classic elegance of this neighborhood while also bringing today’s luxury rental experience and all it entails to this section of the lakefront for the first time.”

Designed by award-winning architecture firm Booth Hansen, 61 Banks Street features an elegant stone façade accented by architectural bays, which allow for panoramic views of Lake Michigan or the surrounding neighborhood from many units. The building includes a mix of two- and three-bedroom residences, with two-bedroom apartments averaging 1,700 square feet and three-bedroom apartments averaging 2,400 square feet. Apartments are priced from $7,200 per month.

Additionally, 61 Banks Street includes seven two-story maisonettes lining the base of the building along Lake Shore Drive and Banks Street. These rowhome-style residences, which offer two- and three-bedroom plans with private terraces and direct street-level entrances, are priced from $8,100 per month.

All residences at 61 Banks Street feature open layouts with modern gourmet kitchens, spa-style bathrooms, in-unit laundry rooms, 10-foot ceilings and expanses of floor-to-ceiling windows. Each unit is appointed with finishes selected by interior architect Darcy Bonner & Associates, including engineered wide-plank flooring, custom European cabinetry, premium quartz countertops and built-in Bosch and Jenn-Air stainless steel appliances.

“These are gracious homes, in size as well as in the many special details they feature,” said Bancroft. “In an area such as the Gold Coast, where people are seeking both generous space and high-caliber finishes, 61 Banks Street stands apart in not only meeting those requirements, but also offering the flexibility of rental living. You no longer have to own to enjoy the craftsmanship that’s long been associated with a Gold Coast address.”

Amenities at 61 Banks Street are designed to complement individual apartments and create a service-driven residential experience. A private rooftop club, which will be available to all residents, features a glass-enclosed lounge, library, kitchen and well-equipped fitness center. Additionally, a lushly landscaped roof terrace with outdoor seating, dining areas and grilling stations will showcase the building’s lakefront and skyline views. Managed by Draper and Kramer, 61 Banks Street also features a full-time hotel-style concierge, 24-hour doorman, valet parking and an underground garage with electric vehicle charging stations and secure bicycle storage.

@properties is the exclusive leasing brokerage for 61 Banks Street, whose residences are already 25 percent leased.

“There’s been significant anticipation around 61 Banks Street, particularly among those who have been watching it rise along Lake Shore Drive since we started construction last year,” said Bancroft. “With leasing now officially underway, the early response has been tremendous. We’re eager to introduce discerning renters to what sets this building apart as we prepare to welcome our first residents later this spring.”

For more information, visit www.61BanksStreet.com. To schedule a presentation, call (312) 858-0044 or e-mail kathleenullo@atproperties.com.

About Draper and Kramer, Incorporated
Founded in 1893, Draper and Kramer, Incorporated, is a trusted financial and property services provider with a deep commitment to people, excellence, service and integrity spanning more than 125 years. Family-owned and one of the leading privately held real estate services firms in the U.S., Draper and Kramer is headquartered in Chicago with a national reach and broad offering of services. The company’s decades-long heritage has evolved over the years to meet the needs of its clients and today spans expertise in residential and commercial development, acquisition, property management and leasing; debt and equity financing for commercial properties; and residential mortgage services through affiliate Draper and Kramer Mortgage Corp. Draper and Kramer provides a single source of real estate-related counsel to a diverse group of real estate investors across the U.S. including corporations; private and institutional owners and users of real estate; government agencies; condominium associations; and foundations. For more information, visit www.draperandkramer.com

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Editors:
For more information, contact Sarah Lyons, slyons@taylorjohnson.com, (312) 267-4520.

Photo:
Residences at 61 Banks Street feature open layouts with modern gourmet kitchens, spa-style bathrooms, in-unit laundry rooms, 10-foot ceilings and expanses of floor-to-ceiling windows.

See Also:
Bisnow, ChicagoArchitecture, Connect Chicago, Curbed Chicago, REjournals, The Real Deal


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