Peak Realty Chicago (PRC) was hired to lease-up The Mondrian, a newly-built 30-unit apartment building in Chicago’s Uptown neighborhood at 4714 N. Sheridan Rd. in spring 2021. After reaching 93 percent occupancy, the team assisted in the building’s sale to an undisclosed buyer on November 30th. Due to the success of the lease-up, the new ownership group will retain PRC as the exclusive leasing and marketing partner for the building.
“Our successful efforts in achieving a 93% lease-up of The Mondrian, despite a challenging marketplace due to the uncertainty of the COVID-19 pandemic, helped the previous owner gain an opportunity to sell to the current owners, and we’re proud to say our work will continue as this new entity has hired our team to continue the leasing efforts of the building,” said Michael Horwitz, Managing Broker of PRC.
Located in the heart of Chicago’s Uptown neighborhood, the development offers brand new artfully designed units ranging from studios to two-bedrooms and an attached parking garage. The building was designed to embody the spirit and style of Dutch artist, Piet Mondrian, who is regarded as one of the greatest artists of the 20th century. Touches of Mondrian’s work can be seen in the individual units, paint colors, property signage and even the parking garage.
Each apartment at The Mondrian features condo-quality finishes and well-thought-out floor plans. Each unit offers stainless appliances and quartz countertops, open concept living spaces and in-unit laundry. The Mondrian is well located for transit, with easy access to the Red Line and Lakeshore Drive for easy commuting. Residents are just steps from the lake and Chicago’s Lakefront Trail, a wide variety of dining options, cafés, entertainment venues including the Aragon Ballroom and Riviera theatre.
