Lendlease Commences Pre-Leasing at Southbank Residential Tower
Lendlease, a leading global real estate and investment group, has begun pre-leasing at The Reed at Southbank, located at 234 W. Polk St. in Chicago’s South Loop. A 41-story residential tower including rental and for-sale homes, The Reed is the second building Lendlease is developing as part of Southbank, its seven-acre master planned community situated along the Chicago River.
“The apartments at The Reed are coming online at a time when interest from renters has never been higher and inventory of newly constructed units is historically low,” said Ted Weldon, executive general manager of development for Lendlease’s Chicago office.
The Reed features 224 rental apartments on floors nine through 22, including studio to three-bedroom floor plans ranging from 544 to 1,417 square feet. Rents begin at $2,160 for studios, $2,230 for convertibles, $2,500 for one-bedrooms, $3,710 for two-bedrooms and $5,325 for three-bedrooms. First move-ins are expected in late May.