Amli Residential is prepping to build an impressive 17-story, 297-unit apartment tower in Chicago’s River North neighborhood, according to Crain’s. If approved, the project will be built at 808 N. Wells, the northwest corner of Chicago Avenue and Wells Street.
Per the Crain’s report, Amli acquired the site from Smithfield Properties, which originally planned 23-story, 58-unit condo tower prior to the company’s owner passing away a couple years ago.
For now, the plan is to have apartments at 808 N. Wells average about 548 square feet and target millennials who are willing to give up more living space in exchange for lower rent and the ability to live close to work.
Amli currently owns over 20,000 apartment residences across the U.S. and currently has two buildings in Chicago—AMLI River North and AMLI Lofts over in the South Loop.