Luxe on Madison
1222 W Madison St., West Loop, Chicago
Before the boom of Chicago’s trendy West Loop, Luxe on Madison was completed as a 58-unit condo project that delivered during the subprime crisis. The units had 10foot ceilings and luxury finishes. Recognizing the potential of this neighborhood and the underutilized land adjacent to the existing building, we acquired the development in 2012.
Repositioning of the asset commenced immediately with the conversion of a vacant retail space to a resident lounge, coworking space, and screening room, along with an office for management to be situated on-site. At the same time, we entitled the vacant site for an additional 44-units with an even more robust suite of amenities, including a rooftop deck, grilling stations, a dog run, and expanded fitness center. Like other Fifield projects, Luxe on Madison also has a fine art collection. The completed 102-unit building has outperformed the market with outsized rent growth and is positioned to compete with larger buildings in Chicago’s hottest restaurant and tech scene.
- 102 units
- 7,550 Sq Feet of Retail
- Phase I Completed 2012; Phase II Completed 2016
- Fifield Companies, Developer
- CIBC, Construction and Permanent Lender
- Pappageorge Haymes Partners, Architect
- Summit Design & Build, General Contractor