This Week’s Chicago Deal Sheet

Suburban multifamily transit-oriented developments continue to be popular with developers. The newest one to open is 1620 Central, a four-story, 47-unit building in Evanston that is already 40% leased.

Real Capital Solutions developed the project and RMK Management is managing the property, which is near Evanston’s Central Avenue shopping district, the Central Avenue Metra station and Evanston Hospital. Floor plans range from 601 SF studios to 1,297 SF three-bedroom units, with condo-quality finishes and amenities including private bike storage, electronic package management and a Pressbox service for dry-cleaning pickup and drop-off.  Residents at 1620 Central will be offered their choice of a Metra or CTA monthly pass (via funding on Ventra cards and available until spring 2018) and a Divvy bike share annual membership (available until spring 2020). These amenities can save residents up to $1,900 annually.

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