Co-living, the latest trend in millennial housing, provides shorter-term leases with comprehensive amenities in a community setting; all with the click of a smartphone. We’re pleased to announce that Germany-based Medici Living Group, a leader in providing co-living options, is now partnering with us at Caton Commercial Real Estate Group in Chicago’s Fulton neighborhood. Caton Commercial hopes to identify other potential locations for Medici’s Quarters co-living concept in the Chicagoland area, as well as central business districts elsewhere in the U.S.
Below is an article from therealdeal.com that describes the philosophy behind co-living and the advantages it provides. Please enjoy the article and contact us with any questions, or if you or your business have any other commercial real estate needs where we can be of assistance.
Source: therealdeal.com | Re-Post Caton Commercial 4/19/2018 –
Berlin-based Medici Living Group is bringing its first Quarters co-living location to Chicago next week.
The 175-resident location in Fulton Market is the first in what company CEO Gunther Schmidt said will be a broader push into Chicago, according to the Chicago Tribune.
“We’re seeing massive demand, and we’re really reacting to that demand,” he said. “I think you’re going to see this expand in every city.”
The facility will be on the top five floors of MCZ Development’s 10-story project at 171 North Aberdeen Street, Schmidt said.
Apartments accommodate up to five people, with a kitchen, one or more bathrooms and bedrooms ranging from 77 to 198 square feet. Rents start at $1,200 per month and will average $1,600 per month including utilities, wireless internet, and Netflix movies.
Medici is working with Naperville-based Caton Commercial Real Estate Group to identify other potential locations in Chicago, the Tribune reported.