A real estate guru, Igor Krivoruchko has spent decades researching and sharing his professional knowledge of multi-family properties and apartment communities. Keeping up with local developments, he shares updates on the new project, which is slated to open its doors later this fall.
Igor Krivoruchko has participated in a range of real estate ventures both in his immediate community and afar, paying careful attention to and applying advancements in apartment communities and multi-family housing.
Beginning his career in real estate in 1999, Igor Krivoruchko was able to enter the market as it was on a steep rise, giving him the critical insight to its highest potential. It wasn’t until five years later that he shifted his focus to multi-family housing once he realized the immense benefits of rental cash flow. The growing trend away from homeownership also sparked his interest and drove him to invest in properties that acted as communities versus standalone homes.
Before he set up any new properties, he homed in on targeted areas that suggested the strongest potential for attracting this new wave of buyers. Once he developed a wide understanding of the multi-family market, he assembled a team to begin construction on a series of Class-A luxury apartment communities, which catapulted him to success.
“Before the housing market burst in the late 2000s, people were already shifting their investments from single-family homes to community-style living,” says Igor Krivoruchko. “Today, it’s the preferred style of living in the majority of major cities across the country.”
Paying attention to other community developments in his area, Igor Krivoruchko reports on the new project in the heart of Chicago’s Loop. The property is set to open later this fall and will feature a remodeled 13-story office building that will be home to a highly amenitized development. The design is described as contemporary with modern finishes all around, but will also highlight some of the building’s historic elements.
The new project will host 216 apartments (a mixture of studios, single bedroom, and two-bedroom lodging), which will all include “smart” mechanical systems and technological conveniences. Among other modern resources, residents will enjoy integrated USB power sources, pre-wired media hubs, and Bluetooth audio.
“It’s an incredible building that will sure to be labeled as the new industry standard for futuristic community-style living,” says Igor Krivoruchko. “In addition to hundreds of modern apartments, the ground floor will also include around 7,000 square feet of retail space to meet all residents’ buying needs.”
The building that the new project will take over is already precious to Chicago, making the remodel a way of preserving its history instead of demolishing it. The building was initially erected as the National Life Building and was designed by Jenney & Mundie in 1902. It was previously renovated in 1940 but will witness its most extensive and advanced upgrades when completed in September.