A new tower offering luxury rentals is coming to downtown Chicago. The tower’s name, MILA, refers to its location on the corner of Michigan Avenue and Lake Street. The building will include 402 residences, as well as 22,000 square feet of retail space on its first and second levels. The studio, one- and two-bedroom apartments will have floor-to-ceiling windows with views of Michigan Avenue and Millennium Park. The kitchens will include high-gloss cabinetry, quartz countertops and stainless-steel appliances. With 30,000 square feet of amenities, the building will include a fifth-floor fitness center with a yoga studio. The sixth floor will offer a lounge, a game room with a tech bar, and a pet salon with an outdoor dog run. There will also be a deck with grilling stations, bocce ball courts, an herb garden and fire pits. The 41st-floor rooftop will feature a swimming pool, a sundeck and a lounge with a catering kitchen. The building is currently under construction. Leasing will begin in the spring, with the first move-ins starting in May. All of the apartments are slated for completion by mid-August, according to a spokeswoman for the developer. Prices are not yet available. Demand for luxury rentals is increasing in downtown Chicago, according to a report from Luxury Living Chicago Realty. The average price for a monthly rental was $2,661 in the second quarter of this year, up from $2,408 in the previous quarter.
A rendering of the exterior of MILA as seen from Michigan Avenue.
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