Tawani Enterprises’ new Chestnut Row Homes in the Gold Coast will rent for upward of $15,000 a month, about seven times the average rent in the tony neighborhood.
The new seven-unit development at Chestnut and Clark streets from Col. Jennifer Pritzker’s firm drew its inspiration from a pair of vintage homes across the street that Tawani restored, a firm executive told Chicago magazine.
The company is marketing the limestone-clad units designed by Chicago’s Booth Hansen to renters who want luxury finishes and the privacy of a single-family home. Each unit includes two indoor parking spaces.
Rents will range from $13,500 to $15,000 a month when the first residents move in Jan. 1. RentCafe pegged the average rent in the Gold Coast at less than $2,200 per month.
Tawani is active in real estate in both the city and the northern suburbs, often focusing on restoration and adaptive reuse of historic properties. Earlier this year the firm said it was selling four North Shore mansions, including two it had converted into bed-and-breakfasts.
Pritzker, who retired from the Army in 2001 as a lieutenant colonel, is part of the Pritzker family of billionaires that includes her cousins, Gov.-elect J.B. Pritzker; and Penny Pritzker, the former U.S. Commerce Secretary.
Jennifer Pritzker has a net worth of close to $2 billion, according to Forbes. [Chicago] — John O’Brien
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