Construction Services for new residential high-rise in Oak Park, Illinois.
Located in the heart of the historic downtown Oak Park, Albion at Oak Park is a new, nineteen-story apartment building. The LEED certified structure contains a total of 265 apartment units with high-end amenities, including a library, lounge, and business area on the top floor as well as a fitness and yoga area and an outdoor terrace with a pool. Additionally, the building contains indoor parking on the second through the fourth floor, a car wash area, and a dog run.
The high-rise apartment was constructed by Clark Construction at a cost of $67 million dollars and completed in the fall of 2019.
AKT Peerless was retained by CIBC Bank as their construction monitoring representative, providing preliminary construction analysis and routine construction monitoring throughout the construction of the Navy Pier Hotel and the Rooftop Venue. AKT Peerless has reviewed monthly pay applications and assessed the level of quality control by reviewing project documents, permits, and third-party testing reports. During inspections, AKT Peerless evaluated the security of stored materials and identified any construction concerns that deviated from the plans and specifications.
AKT Peerless’ comprehensive monitoring services provides CIBC Bank: Protection from liability exposure during the initial review of the construction documents. Recommendations for budgetary contingencies to account for unforeseen conditions. Recurring updates on any potential risks or modifications to the construction design throughout the construction. Assurance that the monthly disbursements of loan funds were not premature but were consistent with the appropriate project milestones.
