"Funky, charming, flexible housing" is a hot commodity for big-city professionals and empty nesters, according to a new report from the Urban Land Institute (ULI). The Washington D.C.-based organization states that the newest trends in urban infill development cater to homebuyers aged 25 to 45 and those over 55 who want "convenient, maintenance-free, commute-free living."

In Chicago, buyers in search of such a lifestyle will find what they're looking for at One One One Morgan, a new-construction loft community located at 111 S. Morgan in the heart of the West Loop.

"One One One Morgan offers easy access to prime downtown amenities, as well as upscale features and a broad selection of floor plans to appeal to singles, couples, first-time buyers and empty nesters alike," said Bob Horner, co-principal of Evanston-based Winthrop Properties.

One One One Morgan includes 166 condominiums with one to two bedrooms plus den, one to two baths and 680 to 1,535 square feet. A three-bedroom, 2,376-square-foot duplex penthouse is also available. Base prices range from $165,900 to $425,000, and the penthouse is priced at $699,000. Deeded, indoor parking is $25,000 per space.

According to Horner, a key attraction for many buyers at One One One Morgan is the building's location. The community is within walking distance to the University of Illinois-Chicago, Rush Medical Center and the financial district, as well as the United Center, Union Station and the Sears Tower.

Popular restaurants in the neighborhood include Marché, Carmichael's Steak House and Red Light, as well as a variety of eateries in neighboring Greektown and Little Italy.

With this yen for "funky" surroundings satisfied, urban homebuyers will also find "charming" homes at One One One Morgan.

"These homes have a level of individuality that really distinguishes them from other loft homes in the neighborhood," said Ibrahim Shihadeh, co-principal of Winthrop Properties. "Whether you call it charm or character, it's a quality that makes the difference between an ordinary condo and a home that really speaks to you."

In part, Shihadeh credits One One One Morgan's "charm" to the vast array of floor plans at the community. Forty-one floor plans are available, each displaying classic loft elements such as 10' exposed concrete ceilings, exposed ductwork and columns, open layouts, partial-height walls, hardwood flooring and track lighting.

Homes also feature a number of distinctive contemporary finishes, such as fireplaces with custom-milled surround and optional crown molding.

"Buyers assume finishes with this level of detail must be high-end, custom-made pieces, but at One One One Morgan, these are standard features and relatively inexpensive upgrades that anyone can add to personalize their home," said Shihadeh.

Standard kitchen features include imported Italian granite countertops, 42" furniture-quality cabinetry and a black appliance package. Buyers can also opt for a stainless steel appliance package, a stainless steel apron for the kitchen island, imported Italian cabinetry and a glass, mosaic tile backsplash.

Baths are similarly updated with optional imported Italian vanities and 12" by 12" ceramic tile.

Another big selling point for buyers at One One One Morgan is the private balconies featured in each home. The east- and west-facing balconies range in size from 60 square feet to more than 600 square feet.

"Ample outdoor space gives buyers an opportunity to express their personal style outdoors - whether they want to plant a small vegetable garden, hang a hammock or entertain guests al fresco," said Shihadeh.

According to Horner, the ample outdoor space and selection of floor plans are also examples of the level of "flexibility" buyers have at One One One Morgan.

"Open loft layouts are by nature very versatile, and with 41 variations, someone from every demographic, from singles buying their first home to empty nesters looking to downsize, can find a floor plan that suits their lifestyle," said Horner.

Select floor plans also include flex space, computer niches and additional bedrooms that can function as home offices, libraries, dens or media rooms.

But flexibility at One One One Morgan refers to more than just floor plans. The community also offers a flexible, 5 percent down payment program for qualified first-time homebuyers.

"For many would-be homebuyers, the down payment is the only obstacle preventing them from making the transition from renter to homeowner," said Horner. "But the 5 percent down program at One One One Morgan gives first-time buyers the added financial flexibility to make homeownership an attainable goal."

To reach the sales center for One One One Morgan, take Interstate-90/94 to Adams, go west to Morgan and south to Jackson. The sales center is at the corner of Jackson and Morgan and open daily from 12 p.m. to 6 p.m. For more information, call (312) 421-0111 or visit www.111Morgan.com.

Winthrop Properties is a joint enterprise of developers Bob Horner and Ibrahim Shihadeh. Horner and Shihadeh share more than 40 years of real estate experience, during which time they have built and sold more than 5,000 homes.

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