Oakwood Acquires Marquee Residential Property in Vibrant River North Neighborhood of Chicago

CHICAGO, IL – Oakwood, wholly owned by Mapletree Investments, announced the acquisition of Jones Chicago by Mapletree, a modern 25-story residential property at 220 West Illinois Street, in Chicago's RiverNorth neighborhood. Renamed as Oakwood Chicago River North, the property will offer business professionals, individual travelers and long-term residents a luxurious furnished apartment experience – as well as unfurnished leases of nine months or more – in one of Chicago's most vibrant, in-demand neighborhoods.

"Mapletree is pleased to expand its footprint in the United States (US), with Oakwood Chicago River North joining our portfolio, which currently includes properties situated in Los Angeles, Redwood City, Seattle and Raleigh," said Chua Tiow Chye, deputy group chief executive officer. "Chicago is a top destination for many of the world's biggest companies, and we invested significant resources in selecting the best neighborhood for Oakwood's global clients, as well as corporate and leisure travelers."

Oakwood is rapidly increasing its management of corporate housing and serviced apartment assets worldwide, including planned properties in Dubai, Thailand and China. "The addition of Oakwood Chicago River North – which will be one of Oakwood's premier furnished and serviced apartment properties in the US – to our growing portfolio reflects our evolving approach to global expansion," explained Chris Ahearn, chief executive officer, Oakwood. 

Designed with both modern luxury and sustainability in mind, Oakwood Chicago River North comprises 188 units on 25 floors and offers a variety of flexible, one- and two-bedroom configurations. The Hartshorne Plunkard Architecture-designed building is LEED Gold Certified and boasts spectacular city views with floor-to-ceiling windows. Amenities include a rooftop lounge, a pool and sundeck area, modern athletic/fitness facilities, a covered dog run and dog-washing stations, and more. Notably, the address carries a Walk Score of 95 – ideal for pedestrians and residents to traverse the city.