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Amli Thinks Small with Apartment Plan
Amli Residential has submitted a proposal for an apartment project with a point of differentiation: size. The apartments Amli has planned for 808 N. Wells St. will be at least one-third smaller than those at the developer’s other downtown properties.
“This is a first for Amli, developing a property with unit sizes of 548 square feet,” Amli chairman and CEO Greg Mutz told Crain’s Chicago Business.
The 297-unit development, on a site that Amli took over after a planned condominium tower stalled, will be coming into a downtown apartment market that’s bursting with new construction. However, it may also ride the current wave of popularity for smaller apartments at a time when larger units challenge young professionals to cover the rent check.
At 808 N. Wells, Amli will charge about $1,800 a month, according to the minutes of a community group meeting where the developer presented its plan last month.
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