Suburbanites Want Apartments, Too
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|New downtown apartment properties might be getting a lot of attention, but developers believe there's demand for new apartment space in the suburbs, too (and 4% vacancies in both city and suburban apartment markets bear this out). Opus Development Corp plans to develop in west suburban Lilse in the form of a 310-unit, four-story property called Arboretum Landmark to be completed next fall.|
|Opus general manager Sean Spellman tells us that the property is seeking to attract members of that much-coveted group, renters by choice (the rare and beautiful collector piece that fits nicely with any expensive trinket). Fortunately, that group of people is larger than it used to be—attitudes toward ownership have changed a bit lately—and some of them will look to live in Lisle because of increases in employment by area companies such as Navistar, IKON Office Solutions, and other major employers, he says.|