JMG Realty, Empire Square Group Acquire 482-Bed Student Housing Community in Chicago’s West Side
- Apr 24, 2015
A joint venture between Atlanta-based JMG Realty and Empire Square Group of New York City has purchased Automatic Lofts, a 482-bed student community on Chicago’s West Side.
The building located at 410 S. Morgan/1001 W. Van Buren was formerly home to the Automatic Electric Co., known for developing the Strowger electromagnetic telephone switch. The six-story plant opened in 1910 and housed 850 employees. The property was redesigned by Chicago-based Brush Architects, LLC into a modern student community in 2006, and is listed on the National Register of Historic Places.
Automatic Lofts is conveniently located in close proximity to the University of Illinois at Chicago campus, the Illinois Institute of Art-Chicago, Columbia, Robert Morris and DePaul Universities. Additionally, the community is just steps away from the CTA Blue line station, offering students easy access to popular downtown Chicago destinations.
The community at 410 S. Morgan offers students fully furnished apartments with card key access, a lobby/lounge with pool table, on-site fitness center and laundry facility, private study rooms, bicycle storage and a heated parking garage. Additionally, the property incorporates 5,800 square feet of ground-level retail space.
JMG and Empire Square intend to implement Gigabit Internet and Wi-Fi in each individual unit, and will invest in enhancements to the common areas and building services over the coming months.
Image courtesy of Brush Architects, LLC
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