Chicago, IL
Kennelly Square
Kennelly Square is a two-building warehouse and tower deconversion project. The warehouse was originally built in the 1920’s and the tower in 1972 and was converted into condominiums in 1979. Boasting luxurious amenities, floor-to-ceiling windows with magnificent views of Lake Michigan, the western suburbs and downtown, Kennelly Square’s 268 condos offers an outstanding investment opportunity for SPNA in a highly coveted and affluent project.
Details
Address 1749 North Wells Street
Total Units 268
Project Summary
Kennelly Square is a unique property in the historical Old Town area of the north side of Chicago and on the southeastern edge of Lincoln Park, just one block north of the Gold Coast neighborhood. Kennelly Square is directly across the street from Chicago’s finest string of parks, North Avenue Beach, and numerous attractions, including the Chicago History Museum and Lincoln Park Zoo. It combines the best of city living and the beautiful, natural environment of Chicago’s lakefront.
With 223,228 SF of rentable living space, and an average apartment space of 833 SF, this deconversion project stands out due to virtually zero opportunity for new construction or development in the neighborhood. SPNA will be conducting major “front-heavy” renovations to further elevate the value of the property, together with consolidating ownership, leasing, maintenance, and operations of the property and also leveraging its overall network of industry professionals to create new efficiencies and additional financial savings and gains.
The neighborhood contains a tremendous amount of shopping venues, ranging from small boutique shops to upscale national retailers. Bookstores, coffee shops, restaurants, bars and clubs line the streets. The average Lincoln Park residence is within a 5-minute walk of 14 restaurants and bars and is one of the wealthiest Chicago communities in which to live.
