Where Legacy Meets Luxury
The Legacy Evanston at 1621 Chicago Avenue is an amenity-full and unparalleled living option in the heart of downtown Evanston. A mixed-use rental building with ground floor commercial space and luxury and affordable housing apartments, The Legacy features dramatic Lake Michigan views and is walkable to everything Evanston has to offer.
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What people are seeking in where they live and work is different than before the pandemic. Walkable and transit friendly communities, where young people, families and retired adults can live, shop, dine and work without commuting for hours. Evanston is already prime with office space and is building more. It has excellent restaurants, access to public transit, green space, walking trails and the lakefront, all of which make Evanston so close to the perfect work/life community. The Legacy will offer an amenity-full and unparalleled living option in the heart of downtown Evanston.
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The Legacy is phase two of Horizon Realty Group’s plan to activate the 1600 block of Chicago Avenue and bring 165 new residents – and in turn, new tax revenue – to Evanston.
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Horizon Realty Group is a family-owned and operated developer and property management company that owns and operates over 2,400 market rate apartments from as far south as Chicago’s South Loop neighborhood to as far north as Roger’s Park. Horizon Realty Group also owns and manages The Merion in Evanston.
Horizon is a proven contributor to Evanston and is committed to remaining a long term neighbor and stakeholder in the community. When it purchased The Merion in 2012, it invested more than $40 million in private capital to update what was a neglected senior living facility to save it from impending closure. Today, The Merion is the North Shore’s preeminent independent senior living community and home to more than 150 thriving residents.
COMMUNITY IMPACT
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The current property yields approximately $103,530 in property tax revenue. The new development will offer $712,000 in new revenue in the first year, mostly from fees associated with construction. By 2028, when full assessments on the new property are in place, the new tax revenue is expected to be over $1 million annually and grow to more than $1.2 million annually by 2035. Property taxes fund schools and government services, such as police and fire. The better the schools and safer the community, the higher property values are. The Legacy will generate just over an estimated $9.5 million of new Net Revenue within the first 13 years of the project to the City of Evanston and two school districts. That will not be realized without The Legacy.
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The Legacy will offer 8 affordable housing units. This will add 29% more affordable units to Evanston’s current inventory in market rate buildings in downtown Evanston.
Evanston is committed to increasing the number of available affordable housing units and has identified multiple possible solutions to creating more affordable housing. One is to incentivize the development of more affordable housing by revisiting the size and height for new buildings in exchange for more affordable units. This is a compromise that has worked successfully in Chicago and in many other cities like Evanston.
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With 165 new residents living in The Legacy, the local economy is likely to see a boost, with more residents shopping and dining throughout Evanston.
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Construction will create hundreds of new jobs. Horizon will work with its construction partner to prioritize hiring Evanston residents when possible.
It is expected that once built, The Legacy will create approximately 35 new full- and part-time jobs, and Horizon is committed to giving Evanston residents priority in hiring.
The Legacy will have a significant community impact.
BUILDING HIGHLIGHTS
Located in the heart of downtown Evanston, the multifamily development will feature:
· 110 luxury rental apartments including studio, one-, two-, and three-bedroom layouts
· 8 designated affordable housing units
· Over 6,800 square feet of prime ground-floor retail space
· A suite of high-end amenities including a reflecting pool on the third floor, fitness room, work lounge, dog spa & run, bike storage, and an innovative golf simulator
· 41 EV-capable parking spaces available for lease in the onsite garage
· Private balconies and terraces in select units, with most apartments offering dramatic views of Lake Michigan
FREQUENTLY ASKED QUESTIONS
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We believe the project will actually reduce traffic in the alley as compared to its current use if fully occupied because, whereas no alley management plan exists, we intend to develop and execute an alley management plan that will regulate traffic hours for the project. Move ins/outs will be scheduled based upon slotted windows and availability of the loading berths and at times that would cause the most minimal impact on alley traffic. Furthermore, the project proposes to replace 7 commercial stores with only 2 commercial stores. Commercial activity is the dominant contributor to alley traffic as compared to residential use. The building as proposed should result in less than 100 move ins/outs per year, which, when properly managed, will not result in idling alley traffic.
Furthermore, we engaged the traffic consulting firm of KLOA to perform a traffic study that included a study of the impact of the project on the alley. The study was completed in 2021, updated in 2023, and a new study was finished this summer. It concluded, as relates to the alley specifically, that the city generally prefers access to new developments to be provided via the public alley system, and the city has repeatedly indicated they will not permit access via Chicago Avenue. The report concluded that traffic counts have shown that the alley carries a low volume of traffic that is similar to the volume of traffic in other alleys in Evanston; and the alley has sufficient capacity to accommodate the traffic to be generated by the development.
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We plan and expect to repave the 127 linear feet of alley that abuts the property once the project is completed. Additionally, we have offered to participate in a shared plan whereby all property owners along the alley would contribute on a prorated basis (capped at $200,000 per contributor) toward infrastructure improvement of the alley.
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The project will include studios, one bedroom and two-bedroom apartments that will be rented competitively with market rents of the area. In 2027, studios will be in the range of $2,200, one bedrooms in the range of $2,750 and two bedrooms in the range of $3,800. The Affordable Housing Units will be rented in accordance with the rates set forth by the Illinois Housing Development Authority, which is estimated in 2027 to be: $1,288, $1,377 and $1,653 for a studio, one bedroom and two bedrooms, respectively, for those at 60% of Average Median Income (AMI).
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Ownership will consult with professionals in the area of design, architecture, waste management and City staff as the design process unfolds to devise a specific, thoughtful and bold plan addressing waste management and establishing best practices for The Legacy that surpass others in the industry. The final plan will include: establishing a responsible party for waste management within the ownership organization; establishing concrete goals and objectives towards thoughtful and green waste management; building design features that will promote minimizing waste, composting, recycling and box balers; tenant education and fines for infractions and tenant accountability.
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The project includes 41 garage parking spaces. The parking space will be made available to residents only, subject to demand.
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Contact us at 1621chicago@horizonrealtygroup.com to be added to a mailing list for building updates.
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All of our apartments will be offered as unfurnished units. This allows residents the flexibility to personalize their space with their own furniture and style.
