While some may call Chicago by its specious Second City moniker, we know it’s the best city in the world. But, don’t just take our word for it. Adding another feather to the city’s cap, Site Selection Magazine named Chicago the top metropolitan area for corporate relocation in 2018. With a high-tech workforce, world-class museums, winning sports teams and foodie-favored restaurants, all situated around the beautiful shores of Lake Michigan…what company wouldn’t want to relocate here?
The city added on average 15,000 jobs per year from 2013-2017, with the largest expansion of nearly 20,000 new jobs in 2017 alone. And, 2018 is looking just as promising.
As employees evaluate a corporate relocation, housing is generally their number one issue. While the most common (and expensive) form of housing relocation assistance is with a home purchase, an often-overlooked need is employee rental assistance. According to a recent article from the Human Resources Certification Institute, skipping rental support is one of three common mistakes made in designing relocation packages. As we discussed in the article, leasing often better suits an employee’s needs and budget, but finding the right apartment home requires more than a quick internet search, especially in a city with the size and diversity of Chicago.
In an effort to streamline their relocation services, companies all too often work with just one brokerage firm – typically a full-service firm that says its agents can help with all housing needs, including for-sale and rental. Most brokerages specialize in either for-sale listings or rental listings, but not both – especially in Chicago which is known for its 77 distinct neighborhoods and more than 100 suburbs. So, what inevitably happens is that an employee who wants to rent an apartment in the city is paired with an agent well-versed in the for-sale market. Without the in-depth knowledge of the hundreds of rental buildings in Chicago’s city center, the agent may never quite get it right and the employee is frustrated and confused.
Engaging the help of a professional who specializes in apartment leasing and has hyperlocal neighborhood knowledge, as well as insight into rental concessions and rate fluctuations, will ensure the employee finds the right home and has a positive relocation experience, enhancing the employee’s overall satisfaction with the new job assignment.
Below are a few additional scenarios to consider when determining the best housing option in a corporate relocation:
One Size Doesn’t Fit All
While previous generations bought homes early and stayed in them for a long time, that is not the case today. Many people who would have moved to the suburbs in previous generations are moving to the suburbs at a slower rate, which means many are downtown renters-by-choice for a much longer time period. Many are trading in the suburban home for a maintenance-free rental penthouse or town home in the city. In short, housing needs are incredibly varied and available options are equally diverse.
Short-term Assignments
Many companies are leveraging short-term and temporary assignments as a cost-effective way to balance talent development and the employee experience with the company’s workforce needs. Employees relocating for a short-term assignment will benefit from leasing and often need help finding the right rental community to meet their needs.
Tax Implications
A change in the tax code in 2018 means relocation expenses paid by employers are now taxable, so there is an additional incentive for both employers and employees to forgo big real estate expenditures in a move.
Flexibility
Most employers recognize that working ‘wherever and whenever’ is a growing trend among mobile employees who crave flexibility. Those employees often gravitate toward renting, rather than buying, because they want the flexibility afforded by leasing. Chicago’s newest rental buildings are also known for their high-speed internet, co-working areas and tricked-out business centers, which make connectivity with the home office easier and more enjoyable than ever before. Again, engaging them with a professional to conduct a customized apartment search will yield far better results in finding a home that meets their specific needs.
Ensuring a smooth transition for the relocating candidate is critical to the overall success of the relocation. Engaging the help of a professional leasing service like Downtown Apartment Company is a smart move to guarantee an improved experience for all.
If you need help with a corporate relocation, contact us! We would be happy to talk about our full suite of services, including suggestions for vetted moving, cleaning and furniture rental companies.
Rising 20-stories tall in the heart of the beloved Lincoln Park neighborhood is new Lincoln Commons’ A2 development.
The first of two new buildings coming from developer McCaffery Interests & Hines, this glassy tower will feature 540 stunning rental and 40 condo units. Designed by Skidmore, Owings & Merrill (SOM) in collaboration with Antunovich Associates, the design concept is sleek and modern while preserving the historic nature of the neighborhood in which it’s beautifully situated.
Residents can expect stunning floor-to-ceiling windows, balconies, and thoughtful layouts design. On the ground floor, over 90,000 square feet of retail space will be easily accessible to residents and guests alike. In addition to new retail shopping spaces, Lincoln Commons will provide a spectacular 57,000 square feet of open, landscaped green space available to the public as well. With so much right at your front door, are a million reasons to call this new construction home.
The Lincoln Park neighborhood is home to many of the top city attractions with the tree-lined feel of a quaint neighborhood. With the lakeshore only blocks away, it’s easily accessible for everyone to enjoy. Devour delicious food or find time to check out some cute coffee shops along the way as you fall in love with this area!
Some of the main attractions include the free Lincoln Park Zoo, North Ave Beach, Steppenwolf Theatre, and some great shopping! Be sure to keep your eyes out for Lincoln Commons’ A2 development and the second building to get the best of what this city has to offer!
Looking for luxury apartments for rent in Lincoln Park? Contact us today! We’d be happy to keep you in the Loop!
Meet West Loop’s Landmark apartments—a charming luxury rental building in one of Chicago’s trendiest neighborhoods! This LEED-certified, 30-story masterpiece, designed by Morris Adjmi Architects, reflects and pays homage to the unique historic architecture that can be found throughout the West Loop.
Upon walking into any luxury apartment at Landmark West Loop, you’ll find an open-style, modern kitchen with sleek, modern finishes. Complete with features like high-performance Bosch appliances, a stainless steel island, custom storm grey cabinetry, and subway tile backsplash, these kitchens are the epitome of luxury dining and excellent for entertaining guests and hosting dinner parties.
Each residence includes large, 9’ floor-to-ceiling windows that give you spectacular views of downtown Chicago near the West Loop, custom-designed plank flooring, and cutting-edge Nest thermostats to create the perfect ambiance for your home.
The glamorous bathrooms feature a frameless glass shower, dual sink, Quartz countertops, and a custom-designed vanity.
For entertainment, check out the Landmark Sport & Social amenity area—complete with a swimming pool, hot tub, sun deck, grilling stations and a fire pit for those perfect summer days when you want to BBQ, or roast marshmallows with your friends. There is also a fully-furnished demonstration kitchen for your convenience.
For your fitness needs, enjoy the state-of-the-art, 24-hour fitness center including cardio and weight equipment. There is also a luxurious, serene yoga studio.
Next time you’re near the West Loop, check out Randolph and Halsted Streets for the best entertainment and nightlife options. Halsted Street has plenty of shopping, theatres, boutiques, coffee shops, and bars. Additionally, Randolph Street offers many fine dining experiences for you to choose from. Furthermore, Randolph Street is famous for its annual market street festival, Taste of Randolph, that features the best cuisine in the West Loop and live music performances.
Looking for Downtown Chicago luxury apartments near the West Loop? Give us a call today! We’d be happy to keep you in the loop!
Ashley Lemaine
DAC Contributor
Meet River West’s Mondial apartments—a highly desirable luxury rental building in Chicago’s trendy River West neighborhood! With its international-style architecture and its proximity to popular hotspots in downtown Chicago, this luxury development is truly the best of both worlds.
Upon walking into any luxury apartment at Mondial River West, you’ll find a large, expertly-crafted kitchen with sleek, modern finishes. With features like stainless steel appliances, double bowl undermount sinks, high end Grohe fixtures, Italian wood cabinetry, and granite countertops, these kitchens are the epitome of luxury dining and excellent for entertaining guests and hosting dinner parties.
Each residence includes high 10’ ceilings, large floor-to-ceiling windows, and a private balcony that gives you spectacular views of downtown Chicago near River West.
The glamorous, marble-tiled bathroom is the perfect oasis. With large, deep-soaking tubs, you can rest easily and relax after a long day.
For entertainment, check out the stunning rooftop sundeck—complete with grilling stations and a fire pit for those perfect summer days when you want to BBQ, or roast marshmallows with your friends. There is also a party room located on the rooftop, along with a demonstration kitchen for your convenience.
For your fitness needs, enjoy the state-of-the-art, 24-hour fitness center including cardio and weight equipment.
Next time you’re near River West, explore Chicago and Milwaukee Avenues for the best nightlife options. Chicago Avenue has plenty of shopping, theatres, boutiques, coffee shops, and bars. Additionally, Milwaukee Avenue offers many fine dining experiences for you to choose from. Furthermore, with the United Center conveniently located nearby, you can also catch a Bulls or Blackhawks game and watch your favorite Chicago sports team play!
Looking for Downtown Chicago luxury apartments near River West? Give us a call today! We’d be happy to keep you in the loop!
Ashley Lemaine
DAC Contributor
Bask in the sun poolside in the summer then bundle up at the abundance of indoor amenities these downtown Chicago apartments have to offer.
These terrific luxury apartments all offer direct access to the Pedway, a system of underground walkways connecting buildings all over the Chicago Loop. The Pedway houses a plethora of shops, restaurants, and services, like dry cleaners and salons. Moreover, the Pedway affords direct access to the Metra trains and “L” subway, which goes to the airport, making the Pedway an efficient way to access anything you might need in the winter time, all without going outside.
Located in the heart of Chicago’s Loop, Marquee at Block 37 is the prime spot for summertime luxury living. Warm weather amenities include the outdoor pool and sundeck with cabanas, a rooftop hot tub, multiple terraces with fire pits and grilling stations, as well as a dog run.
In the wintertime warm up in the resident lounge, steam room and sauna, or penthouse level fitness center, which offers a complementary selection of fitness classes. Relax in the cinema screening lounge, game room, or one of several coffee bars. In addition to direct access to the Pedway and both red and blue line “L” stops, Marquee offers access to the on-site Shops at Block 37, including Magnolia Bakery, Sephora, AMC, as well as a preponderance of additional stores and restaurants.
Lakeshore East‘s Aqua building is the perfect place to soak in the Chicago summer or brave the Chicago winter.
Enjoy the sunshine from your own downtown Chicago apartment at the outdoor resident area. Spend the day at the outdoor pool area, complete with a hot tub and personal cabanas. As the night cools down, head over to the sky garden rooftop resident area where you can cozy up by one of Aqua’s many fire pits.
You’ll never have to feel cooped up in the winter time at Aqua. The on-site Filini restaurant and bar and CVS keeps going out to dinner and shopping for essentials convenient. Find entertainment without leaving your apartment at the indoor sky garden lounge. The lounge features a fireplace and is just steps from the media room and movie theatre. Entertain guests in the game room, basketball court, or indoor pool, or work up a sweat in the fitness center, sauna and steam rooms. Furthermore, if you’re looking for something you can’t find inside the building, Aqua offers direct access to the Pedway system.
Located along the Chicago River in one of the city’s most lively areas, Columbus Plaza is a comfortable and convenient place to call home.
The year round sun room’s retractable sky light makes it conducive to rain-or-shine relaxation.
Warm weather entertainment is a breeze at the outdoor bar-be-cue grilling stations and resident rooftop area.
Get fit and stay fit during the holiday season without leaving home at the 48th floor fitness center, where you can admire the Chicago skyline. Find just about anything your heart desires just steps from the Columbus Plaza Pedway entrance.
We’ve had the pleasure of welcoming many beautiful luxury high rises to downtown Chicago this year. This South Loop gem stands out as one to be sure to check out!
1000 South Clark is loved for a multitude of features, but namely its amenities. With 45,000 square feet of common space, a 20,000 square foot roof top deck, and 10,000 square feet of fitness space, its no mystery why the amenities are a resident favorite. Moreover, 1000 South Clark just opened this year and the poolside sun deck, private library and wine lounge, and restaurant grade resident kitchen were just some of the top hits. Not to mention, there’s plenty for your furry best friend to love here, too, with a dog run and grooming and daycare services.
The 29th floor clubhouse is a beautiful spot to take in views of the South Loop and beyond. Or, step outside to the penthouse level roof terrace and enjoy the view by one of my fire pits.
The Billiards Lounge is more than the average game room. The lounge features two televisions, a pool table, card table, Chexx hockey game, and a wet bar. The cozy and elegant ambiance makes this room the perfect spot for entertaining a few friends on game night.
Have your Sunday Funday poolside! The indoor lap pool is just steps from the outdoor terrace, complete with barbecue grills, tanning areas, party space, and bluetooth-ready speakers. As the day turns to night, keep the South Loop party going with the outdoor theatre.
The fitness facilities are every workout lover’s dream come true. On sunny days, you can take a jog around the rooftop track. On chilly days, warm up in the club-grade sauna. Practice your golf skills at the indoor golf lounge, complete with a putting green and virtual golf simulator. The 10,000 square feet of indoor workout equipment houses over 40 machines, a free weight area, and two group fitness rooms with fitness-on-demand.
