Speculation on the strength of the suburban multifamily market continues. M&R Development and Hamilton Partners are JV'ing on the Residences at Hamilton Lakes, a 297-unit multifamily development next to Hamilton Partners' Hamilton Lakes business park in Itasca. Groundbreaking is expected later this spring.
Situated on 11 acres, the Residences at Hamilton Lakes will add a multifamily component to Hamilton Lakes, which has 3M SF of office space, two hotels and retail. The project will be five miles from O'Hare International Airport and is a five-minute drive from the Itasca Metra station.
Amenities will include a clubhouse with an outdoor pool, media room, fitness facility, business center, spa, sauna and steam room. The Residences at Hamilton Lakes will deliver next year. Murphy O'Brien is an equity partner.
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