Albion Residential completes first branded rental development in US

US-based Albion Residential has completed its first branded high-rise rental development at 1000 Lake Street in Oak Park, Illinois.

Known as Albion Oak Park, the 19-storey apartment building features 20,000ft² usable outdoor space and an interactive, hotel-style 7,000ft² area for the general public. It also has 7,000ft² of retail area on the ground floor.

The outdoor space also includes rooftop lounge and terrace, outdoor chef’s kitchen and resort-style pool with private cabanas, as well as a wellness centre, podcast studio, pet spa and indoor dog run.

Located in the upmarket Chicago suburb, the new property features 265 units ranging from studio apartments to three-bedroom apartments.

The building has a Club Room featuring a kitchen, shuffleboard, video games and six televisions. The Frank Lloyd Wright lounge can be used for reading, studying or working from home.

Albion Development vice-president Andrew Yule said: “Albion Oak Park was designed to deliver an environment that combines the best of what the city and the suburbs have to offer in a unique yet vibrant community.

“We are grateful to our partners, as well as the Village of Oak Park, for helping us bring this vision to life. With our resident-centric services and focus on community integration, Albion Oak Park introduces a new level of living.”

Albion Residential partnered with New York City-based real estate office Wilton Investment Management for the development of Albion Park Oak. The project was funded by CIBC and Associated Bank.

Clark Construction was the general contractor and Village Green managed the project.