JMG REALTY, INC. and EMPIRE SQUARE GROUP purchase Automatic Lofts, a 482 bed student housing building in Chicago
JMG Realty, Inc. today announced the acquisition of the 482 bed Automatic Lofts apartment building in Chicago's West Loop area, by a joint venture of Empire Square Group and JMG Realty, Inc.
Automatic Lofts was redeveloped in 2006 into a 482 bed student community with 5800 square feet of street level retail space and a heated parking garage. Located only steps away from the University of Illinois at Chicago campus, Automatic Lofts is also just steps away from the CTA Blue line (UIC-Halsted station). This makes it an excellent living option for students at many colleges in the downtown area including Illinois Institute of Art-Chicago, Columbia, Robert Morris, and DePaul Universities. Automatic Lofts offers residents the exciting West Loop lifestyle together with easy access to their college and the many vibrant surrounding neighborhoods of Chicago.
Built in 1910 as a factory, the structure housed the Automatic Electric Company and produced the innovative Strowger electromagnetic telephone switch. This automated technology replaced switchboard operators by the late 1950's. According to Jean Woodworth, Executive VP and Partner, JMG plans to continue the tradition of providing advanced communications technology in this historic building by implementing Gigabit Internet and Wi-Fi to every unit, a much sought after amenity in student housing.
Automatic Lofts is listed on the National Register of Historic Places. Original building components include timber columns, high ceilings and exposed brick walls. Units feature Herman Miller furnishings. JMG and Empire Square will be enhancing the unique appeal of this historic property with several enhancements to the common areas and the building services over the coming months.
ABOUT EMPIRE SQUARE GROUP
Empire Square Group is a private equity investment and advisory firm based in New York and focused on real estate. The firm works on behalf of substantial high net worth individuals, family offices and their institutions to source customized investment opportunities as well as to provide advisory and asset management services for existing portfolios. Empire Square currently manages over $450 million in assets across the United States.
ABOUT JMG Realty, Inc.
JMG is a fully disciplined real estate investment firm headquartered in Atlanta, GA. The firm provides redevelopment, financial, investment and management services for multifamily real estate, including conventional and student housing, for both private and institutional owners. The firm currently manages over $2.4 billion in assets and 25,000 units across the United States.
JMG named Accredited Management Organization of the Year by IREM
IREM GA has 34 AMO’s. The AMO accreditation recognizes excellence among real estate management firms. Only those firms that achieve the highest level of performance, experience and financial stability and have a CPM in an executive position can earn the A
IREM GA has 34 AMO’s. The AMO accreditation recognizes excellence among real estate management firms. Only those firms that achieve the highest level of performance, experience and financial stability and have a CPM in an executive position can earn the AMO credential. This year’s award winning company was formed in 1989 and was known as Jackson Management Group operating primarily in the Northeast, Mid-Atlantic and Southeast. In 1996 Jackson Management merged with The Hudson Group and became JMG Realty. Now for over two decades, JMG Realty has flourished as a fully disciplined real estate company, focusing on management, redevelopment, financial and investment services for multi-family real estate properties servicing both private and institutional owners. With headquarters in Atlanta, Georgia, JMG Realty continues to expand its national presence with regional and divisional offices located throughout the Northeast, Mid-Atlantic, Southeast and Southwest. Defined by integrity, trust and ethics, JMG Realty continues to influence the multi-family industry by delivering on the experience of team members and a record of award-winning performances.
We would like to congratulate the following properties on receiving the 2013 ApartmentRatings.com Top Rated Award! "Our annual awards recognize properties with outstanding resident satisfaction ratings as measured on ApartmentRatings.com. Only approximate
- Ashbrook Brookstone Apartments
- Carlyle at Bartram Park
- Clairmont Reserve
- Cushendall Commons
- Lexington Farms
- Mariners Crossing
- Mill Pond Village
- North 38
- Palmetto Place
- Palmetto Pointe
- Spalding Bridge
- Viera Bayside
- Vinings at Newnan Lakes
- Falcon Square – Luxury Property of the Year (second year in a row)
- Falcon Square – Assistant Manager of the Year – Olga Kosterina
- Corporate Support Personnel of the Year - Suzy Stork – JMG Palm Bay office
- Bonita Fountains – Renovation of the Year
- Bella Lake – Property of the Year
Development and Community Impact
Stonemill Apartments (Atlanta, GA ) is named Outstanding Renovation Project by the National Apartment Association.
- Stonemill Apartments (Atlanta, GA ) is named Outstanding Renovation Project by the National Apartment Association.
- Centro Place Apartments (Tampa, FL/ Historic Ybor City) is named the Outstanding Rehab Project of the Year, by the Tampa Bay Business Journal.
- A JMG Realty managed property is named Best Rehabilitation/Reuse in the Tampa Bay Business Journal’s Best Real Estate Deals.
- The Ashford (Altamonte Springs, FL) receives the Outstanding Renovation Project Award from the National Apartment Association’s Units Magazine.
- City View at Hughes Square (Orlando, Florida) receives the Golden Brick Award from the City of Orlando for Best Residential Project of the Year, as awarded by the Downtown Orlando Partnership.
- Stonehill of Sandy Springs (Atlanta, GA), Pillars of the Industry Award finalist for “Best Multi-family Rehab” by the National Association of Home Builders.
City View at Hughes Square (Orlando, Florida) receives the National Association of Home Builders Pillars of the Industry Award for Best Overall Sales or Leasing Campaign for a Multi-family Property.
City View at Hughes Square (Orlando, Florida) is recognized as a finalist for the National Association of Home Builders Pillars of the Industry Award for Best Overall Marketing Plan.
Greenwood Apartments (Clearwater, Florida) receives the National Association of Home Builders Pillars of the Industry Award for Most Creative Financing.
City View at Hughes Square (Orlando, Florida) receives the National Association of Home Builders Pillars of the Industry Award for Most Creative Financing.
Management and Team
JMG Realty team members were recognized as Regional Manager of the Year, Assistant Manager of the Year, Leasing Consultant of the Year, Maintenance Supervisor of the Year, Maintenance Tech of the Year, Housekeeper of the Year, and Groundskeeper of the Yea
JMG Realty managed properties were named Apartment Community of the Year, Most Improved Apartment Community, and Best Overall Model Apartment Home by The Southeast Florida Apartment Association.
A JMG Realty managed property was named Best Apartment Community in Atlanta’s Towne Lake development.
A JMG Realty Senior Vice President was awarded Chairperson of the Year by the Atlanta Apartment Association.
JMG Realty is named Management Company of the Year by the Southeast Florida Apartment Association.
JMG received its AMO® designation in 1992.