Client Testimonial: 1400 Monroe
Situated in the heart of Chicago’s West Loop neighborhood on a quiet tree-lined street, 1400 Monroe is a collection of 42 luxury residences that integrates thoughtful design with an unmatched location. We sat down with Jordan Karlik of JK Equities to learn more about the property that was named 2020’s best new development by Chicago Agent Magazine.
How would you describe the transformation of life in the West Loop over the period of developing 1400 Monroe? What are some of its greatest offerings today?
When we acquired the property in 2018, it was somewhat of a pioneering move because the West Loop didn’t extend as far west as the 1400 block yet. There was some initial pushback from buyers over the location, but the neighborhood has grown since then and the market came to us. Buyers are looking for more space as a result of the pandemic. They want to be close to the hustle and bustle of the West Loop, but they also want to open their doors and feel a sense of community. 1400 Monroe delivers on all of those promises. Skinner Park is right outside the door and the building is just a short walk from all that the West Loop has to offer.
What was your initial vision for 1400 Monroe, and how was it fulfilled?
We felt that the condo world was lacking in value-driven product. By that I mean a no-frills building — no doorman, no fancy amenities. We wanted to deliver a sensible, value-driven building by prioritizing location and high quality finishes, and that’s what we did. 1400 Monroe is handsomely appointed on the inside and out. We worked with local architecture firm Booth Hansen to design a modern building contextualized to the West Loop’s industrial past. The brick facade and enormous loft-style windows give it a factory vibe. It’s not too complicated or sexy, but in this case we thought less was more.
How would you describe your buyers? Are they the ones you anticipated?
We have a lot of professionals and growing families with kids and dogs. During the pandemic, people spent a lot of time looking around the four walls of their home thinking, “I need more space, I want to be near a park.” 1400 Monroe ticked all the boxes for those buyers with the location alone. We also attracted some move-up buyers and empty nesters. It’s an eclectic mix that is representative of who you see in the West Loop today.
What was your experience marketing a project throughout the pandemic?
We always say, “expect the unexpected,” but nobody could have predicted what happened over the past two years. Supply chain disruptions, global shipping issues — it was difficult to say the least, but these are the twists and turns that we experience in the industry. Certain materials were months late, but we stuck with it and figured out how to navigate the disruptions. It pushes you to rethink things and do better. Recently, we brought in @properties Development Group to finish the project, and they’re great at what they do. They’re the biggest and best in the industry, and have a tremendous marketing and support team.
What are some of the most exciting features of 1400 Monroe that set it apart from other residential buildings?
Our philosophy is that people tend to buy kitchens and baths. We worked with Mojo Stumer, a New York-based interior designer, to create a warm, modern aesthetic. The units are light-filled with high ceilings, open layouts, and stunning kitchens and master bathrooms. While we did offer selections in terms of color and stone, we only offered a handful of upgrades. Our mentality was to build a quality product and show people exactly what they were getting. Buyers saw the value and most didn’t opt to upgrade anything.
And finally, it’s all about the location. 1400 Monroe is on a quiet, serene street surrounded by parks and green space. When you drive by, there are neighbors walking around day and night, walking their dogs or pushing their kids in strollers. There’s an undeniable vibrancy and energy to the area.
To learn more about 1400 Monroe or for inquiries, check out their website.