Lendlease, a leading integrated real estate group, has announced that The Reed at Southbank, its 41-story residential tower at 234 W. Polk St. in Chicago’s South Loop, has reached stabilization with rental units now 95% occupied since the property began welcoming residents last summer.
Situated along the Chicago River just south of the Loop, The Reed is the second high-rise completed within the 7-acre Southbank master plan. The tower features 226 rental apartments, offering studio, convertible, one-, two-, and three-bedroom layouts, as well as 214 condominiums on the upper floors. This combination provides diverse living options and a broad range of shared amenities for all residents.
“The Reed’s outstanding amenities, industrial-modern design, and prime riverfront location have drawn renters in,” said Andrew Trickett, Managing Director of Investment Management at Lendlease. “These features not only enhance the living experience but also bolster our investment management strategy by creating valuable assets.”
The Reed is part of Lendlease’s multifamily assets in Chicago, which also include The Cooper, a 452-unit apartment building at Southbank, and Cascade, a 503-unit tower in the Lakeshore East neighborhood.
The apartments at The Reed offer 9-foot exposed concrete ceilings, wide-plank wood flooring, and full-height windows with views of the downtown skyline, Southbank Park, and the Chicago River. Some units also feature balconies.
The building’s eighth-floor amenity suite boasts a 15,000-square-foot outdoor deck with a resort-style pool, cabanas, sunning lawn, fire pits, fully equipped kitchens, and dining areas. Other amenities include a wet lounge, an indoor-outdoor fitness center with HIIT and yoga spaces, a show kitchen, dining room, lounge with TVs and pool table, virtual sports simulation room, salon, massage room, and media room. The hospitality-inspired lobby features a fireplace, bar, 24-hour concierge, mail and package rooms, bike storage, and areas for remote work and social gatherings.
Adjacent to The Reed is Southbank Park, a 2-acre green space developed by Lendlease. Designed by Hoerr Schaudt and implemented by Confluence, the park includes a central lawn, natural stone amphitheater, and meandering walkways that connect to a new riverwalk, extending the Chicago Riverwalk.
Reflecting Lendlease’s commitment to sustainability and wellness, The Reed holds LEED Gold, Fitwel, and ENERGY STAR certifications. Green initiatives include a lower-carbon concrete mix used during construction, EV charging stations, an EV car-sharing program, and a partnership with The Roof Crop for rooftop gardens and apiaries that produce flowers, produce, and honey for residents and local businesses.
The Reed’s location provides easy access to major highways, various public transit options, and is within walking distance of businesses in the Loop and West Loop, as well as local restaurants and retailers in the South Loop and Printers Row neighborhoods.
About Lendlease:
Lendlease (www.lendlease.com) is a globally integrated real estate group with operations in Australia, Asia, Europe and the United States. We create places where communities thrive. Headquartered in Sydney, Australia and listed on the Australian Securities Exchange (ASX:LLC), our core capabilities are reflected in our operating segments of Investments, Development and Construction. The combination of these three segments provides us with a sustainable competitive advantage in delivering innovative integrated solutions for our customers.
