After breaking ground early last year, Cedar St. Companies and partner Origin Investments have wrapped up construction on a seven-story, 202-unit rental development at 1461 S. Blue Island Avenue near the border of Little Italy and Pilsen.
Known as The Rosie, the newly finished building offers apartments ranging from micro-studios with monthly rents starting at $1,645 to larger two-bed units topping out at roughly $2,700 per month. Select studios feature high-tech "smart" furniture from Ori Design that maximizes space with beds that slide out of the way when not being used.
Courtesy Cedar St.
Designed by Hartshorne Plunkard Architecture, The Rosie features a brick base topped by metal and glass residential floors. An L-shaped layout takes advantage of its triangular lot to optimize outdoor space and views. There are two ground-floor retail spaces totaling nearly 7,000 square feet and outdoor murals lining 15th Street.
Building amenities include a resident lounge, a fitness center, a dog run, and an 8,500-square-foot pool deck facing the Chicago skyline. Parking is spread across a 110-car garage and a 21-vehicle surface parking lot.
Courtesy Cedar St.
In early 2020, the estimated $65 million development (then known by the name "Pilsen Gateway") scored tax incentives for being located in a federal Opportunity Zone, reported Crain's. The Rosie was approved by the city before City Hall boosted its affordable housing requirements for new projects, so only seven of the 202 units are designated as affordable.
"Cedar St. shares our enthusiasm for innovation, and we enjoyed collaborating with them on new concepts like the Ori smart furniture package during development to add value for our renters," said David Scherer, principal of Origin Investments, in a statement. "The Rosie is in one of the most vibrant submarkets in our own backyard and we're excited for a successful lease up."
