“We’ve collaborated with some of the best in the industry to deliver The Venn, a new center in the West Loop offering an intimate lifestyle with a variety of housing choices and modern amenities – where work, home and social lives truly intersect,” said Ted Weldon, executive general manager for Lendlease Development in Chicago. “For Lendlease, it’s just one more example of how we’re developing communities across the city that not only appeal to young professionals who crave the bustle of city life, but also families and empty nesters who are choosing an urban setting to call home.”
Upon completion, The Venn will feature 586 residences – 319 in the north tower, 254 in the south and 13 rental townhomes with private entrances along Peoria and Monroe streets – all connected by a two-story podium that includes 11,000 square feet of retail space and 278 parking spaces, which will be available for resident and public use.
The 17-story towers will include a blend of one-, two- and three-bedroom floor plans ranging from 546 to 1,591 square feet, while the townhomes include two-bedroom residences, ranging from 1,469 to 2,036 square feet. Pre-leasing is expected to begin in early 2020.
“We chose the name The Venn because this development is deeply rooted in connectivity,” said Ariana Rasansky, vice president of marketing and operations for The John Buck Company. “It’s made up of two buildings with a shared amenity space, and we were drawn to the idea of providing each building with its own personality, but with overlapping communities and a shared story.”
Both towers will feature their own design and amenity spaces, accessible to all residents, such as a ground-floor lobby, fitness center, entertainment lounge, game room, communal chef’s kitchen, coworking space and dog run. Outdoors, residents will share a large deck with pool, lounge seating, fire pits, grilling stations and lush green spaces.
For The Venn, Lendlease and The John Buck Company collaborated with the award winning G|R|E|C Architects, based in Chicago, to create a stepped, three-tier façade that transitions from masonry at street level to glass on the upper floors. The design is intended to maintain the character of the existing streetscape and to complement the surrounding architecture in the West Loop. A high degree of texture and materiality at the townhouse level also enhances the pedestrian experience.
“We have a great responsibility in working with an entire city block to keep the development scaled to the community and the inhabitants,” said Greg Randall, managing principal of G|R|E|C Architects. “Carefully scaled forms are stacked upon one another to give relief and visual interest to the residential modules. The facades are intended to laterally convey the tension and compression of urban life while the peeling back of the more solid, more textural materials at the ground plane vertically give way to airier, glass enclosures as the towers ascend skyward-evoking the progression and reward of urban living. The positioning of the stacked towers on the block also allows for a strong visual continuation of Mary Bartelme Park up to The Venn’s amenity deck.”
In addition to enjoying the renowned restaurants and boutiques throughout the West Loop, and the close proximity to Mary Bartelme Park, residents at The Venn live within walking distance of major employers, including Google’s Midwest headquarters and McDonald’s global headquarters. The development also provides convenient access to the Kennedy and Eisenhower expressways, as well as Ogilvie Transportation Center, Union Station and several CTA bus and rail lines.
“Intercontinental is proud to be a development partner for The Venn,” said Peter Palandjian, chairman and CEO of Intercontinental Real Estate Corporation. “With this project, we are truly creating a community within a community – one that both reflects and contributes to the continued evolution of the West Loop as a place to live, work and experience all Chicago has to offer.”
To learn more about living at The Venn, please visit www.thevennapartments.com.
Lendlease is a leading international property and infrastructure group with operations in Australia, Asia, Europe and the Americas. Our vision is to create the best places; places that inspire and enrich the lives of people around the world.
Headquartered in Sydney, Australia, and listed on the Australian Securities Exchange, Lendlease has approximately 13,000 employees internationally.
Our core capabilities are reflected in our operating segments of Development, Construction and Investments. The combination of these three segments provides us with a sustainable competitive advantage and allows us to provide innovative integrated solutions for our customers. Our integrated approach means we harness the expertise in infrastructure, design, development, investments and management to deliver a project from conception to completion.
In the US, Lendlease Development brings over 60 years of global experience to bear in urbanization, communities and infrastructure development. Leveraging our Urban Regeneration strategy, we are committed to delivering transformational projects in gateway cities that meet our vision To Create the Best Places, places to be enjoyed and celebrated - both today and in future generations.
About The John Buck Company:
Founded in 1981, The John Buck Company (“JBC”) has an established track record and reputation as a premier, vertically-integrated real estate investment, development and operating company focused on major U.S. urban markets. Since inception, JBC has made principal investments in assets comprising more than $6.7 billion of gross value and acquired, developed, or redeveloped over 42 million square feet of office, multifamily, residential and mixed-use properties. For more information, visit www.tjbc.com.
About Intercontinental Real Estate Corporation:
Intercontinental Real Estate Corporation is an SEC Registered Investment Adviser with decades long experience in real estate investment, finance, development, construction management and asset management. Since 1959, Intercontinental and its affiliates have managed, developed, or owned collectively over $10 billion in real estate property. Today, Intercontinental manages a real estate portfolio of approximately $8 billion for its clients. The Intercontinental portfolio is diversified both by robust property mix and by geography. Fund strategies actively seek opportunities to invest in both Core and Core-Plus properties, as well as in Value-Add operating properties and development projects.
About GREC Architects:
GREC Architects is a world-class, national studio of diverse experts known for redefining environments by employing responsive, artistic and integrated architectural methods. Based in Chicago, GREC develops meaningful spaces by creating experiences for people where they live, work and play. GREC specializes in sectors including hospitality, high-rise residential, commercial and mixed-use, and interior design for corporate environments.
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For more information or to schedule an interview, contact Mimi Simon, [email protected], (312) 267-4517.
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