THE LOOP — RMK Management opened the leasing office at 73 East Lake Monday, before the 42-story luxury high-rise on Lake Street between Michigan and Wabash avenues opens for occupancy late next month.
The all-rental, 332-unit building was designed by Solomon Cordwell Buenz and includes a mix of studio, one- and two-bedroom apartments. Amenities include a full-service gym, rooftop terrace, screening room and 178 indoor parking spaces.
The opening at the end of April comes as the neighboring megalith across Lake Street at 200 N. Michigan Ave. is being demolished, making way for a 515-foot mixed-use tower with 432 residential units and 25,000 square feet of retail space.
“It’s an exciting time for the downtown luxury rental market, with a handful of notable new-construction developments opening in the coming months," said Anthony Rossi Sr., president of RMK Management.
"Demand for this type of very high-end rental continues to be very strong," Rossi said in a statement issued by the development team.
M & R Development, the team behind Parc Huron in River North, hopes to make 73 East Lake the first new-construction apartment tower to open Downtown in 2014.
Units will rent at $3.40-3.50 per square foot, according to the leasing office. That puts studio units in the $2,300-$2,500 range, one bedrooms between $2,700 and $2,850 per month, and two bedrooms available for $3,275 to $4,360 monthly.