Property Overview
Interra Realty has been exclusively engaged to market 707 N. Wells Street, Chateau on Wells, for sale. Chateau on Wells is a 2016 construction mixed-use asset with 43 high-end apartments above approximately 5,100 square feet of street level retail and 41 garage parking spaces.
Chateau on Wells offers tenants the benefits of a boutique, neighborhood living experience without compromising on unit finishes or amenities. Common area amenities include; fitness center, outdoor patio with built-in grills, bike storage and dry cleaning drop-off/pick-up lockers.
Units have high-ceilings, modern finishes, in-unit laundry and individual HVAC. The units offer some of the largest floorplans within the submarket (average square footage is over 1,000 square feet) and all units have private outdoor space.
The retail is leased to Boka Group, a James Beard Award winning local restaurant group who operates several of Chicago's highest regarded restaurants. Boka Group has spent approximately $2 million dollars of their own capital in the buildout of their new concept, Gingie, that is set to open later this summer. Chef Brian Lockwood developed the menu that is said to "combine thoughtful European techniques with Japanese-inspired flavors” throughout three different sections - sharables, specialties, and pasta.
Highlights
- Extremely Rare Trophy Asset of Boutique Size in an A+ Chicago Location
- Average Apartment Rent: $4,031 / Average Apartment Size: 1,053 SF
- Street-Level Retail Net Leased to James Beard Award Winning Restaurant Group
- All Units Have Private Balconies or Terraces
- Unique Boutique Living Experience with Common Area Amenities of a Larger Property