The Orchard in Chicago

Name: Sales in The Orchard started!
Start: 2020-08-03T08:54:32.986776+00:00
End: 2023-12-31T23:59:59+0000
Location: The Orchard

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Project info

Object ID: 8380

Finished at	December 2020
Price, m²	From 7800$
Buy online	Details
Installment plan	—
Bank mortgage
Property type	Aparment building
Square	from 185.00 m²
Floors	7
Apartments	32
Condition	Turnkey
Construction type	Monolyth
Security	CCTV Security Reception
Conveniences	Parking Underground parking Spa Fitness Pool Commercial area Kids playground Near school Near kindergarten Near supermarket
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Personal discount certificate 300$
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Return on investment for apartment

with price

11,755$

Rental income

1,103$

Management

689$

Utilities

587$

5% Income tax

9,376$

Net profit

Month	Days in month	Occupancy, %	Occupancy, days	ADR	Total
January	31	16%	5	55$	275$
February	28	21%	6	55$	330$
March	31	12%	4	60$	240$
April	30	16%	5	60$	300$
May	31	25%	8	60$	480$
June	30	60%	18	80$	1440$
July	31	77%	24	120$	2880$
August	31	77%	24	130$	3120$
September	30	40%	12	100$	1200$
October	31	38%	12	60$	720$
November	30	23%	7	55$	385$
December	31	22%	7	55$	385$
Total	365		132		11755$
Average		35%		74$

Total invested

1,443,000$

Net profit

9,376$

Payback period

122.8 years

Avg property value increase per year

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About the project

Co-developed by Hines and McCaffery, The Orchard is a collection of sophisticated private residences in Chicago’s Lincoln Park neighborhood. Jameson Sotheby’s International Realty is handling sales of the condo units within the property.

Located at 2350 N. Orchard Street, the seven-story boutique building features 32 homes ranging from 1,650 to 3,600 square feet, with many units featuring private elevator access. The project broke ground in early 2019 and is pursuing a LEED Silver certification.

Designed by Chicago-based architecture firm, Antunovich Associates, The Orchard takes design cues from Lincoln Park’s historic facades and distinctive Greystones from the early 20th Century. Surrounded by lush gardens, the boutique residential building features graciously designed spaces with the finest modern appointments. Each individual home was conceived by acclaimed Chicago interior design firm Soucie Horner, Ltd.

Residents have access to a rooftop terrace featuring built-in, chef-grade cooking stations. With 3,800 square feet of lush gardens, the rooftop terrace also boasts several al fresco lounge spaces and views of Lake Michigan, Lincoln Park and the Chicago skyline. Other amenities include a high-performance fitness center, a 24-hour door attendant and a secure, heated garage.

Developer

Hines has 165 developments currently underway around the world, and historically, has developed, redeveloped or acquired 1,393 properties, t…
Details about Hines