by Brianna Crandall — January 1, 2016—In a move other urban high-rise towers may want to emulate, luxury retail is replacing the residential entrance at what is rapidly becoming one of Chicago’s most toney Gold Coast intersections, the corner of Chestnut and State. Traditionally the western edge of the Gold Coast luxury retail cluster, Chestnut Place Apartments owners are reinventing the entire building.
Renovations at Chestnut Place Apartments will move the residential entrance on the ground floor of the mixed-use high rise to offer nearly 7,000 square feet of luxury retail space framed by a 2-story façade and atrium.
The most visible element will be changes to the building’s ground floor, moving the residential entrance around the corner to 8 West Chestnut. These renovations will allow the building to offer new, two-story retail façades designed for brand visibility along State Street, scheduled for delivery in early 2016.
Dramatic retail spaces
Owners USAA Real Estate Company and Golub & Company say the new retail offering will total 6,777 square feet across four distinct spaces. The new, two-story façade will offer significant branding opportunities across each of the storefronts.
Retailers will benefit from increased exposure, and a more dramatic presence in one of Chicago’s most popular high-end shopping and dining neighborhoods. Brands will be able to customize their storefronts to maximize their identity to benefit from the increased exposure.
Transformed apartments
Residents will also benefit from the significant renovation of this 30-story 1980 Gold Coast high-rise mixed-use tower. In addition to the new entrance, lobby and adjacent sales center, a phased remodeling of the building’s 280 convertible, one-bedroom and two-bedroom apartments is already 40 percent complete.
The renovation will also update the mezzanine amenity level of the building, including the installation of a large resident lounge area with a business center and wi-fi café. Significant upgrades are also being made to the fitness center, patio and grilling area.
