Optima, Inc. has received final village board approval for Optima Lumina, a 128-unit luxury residential building in downtown Wilmette on Chicago’s North Shore.

The six-story building features one- to three-bedroom residences of up to nearly 3,000 square feet, almost 5,900 square feet of retail space, a large public plaza, and a robust amenity package. Replacing the long-vacant former Imperial Motors car dealership located at 720-739 Green Bay Road, the transit-oriented development is located directly across from Wilmette’s Metra rail commuter station.

It is also immediately north of Optima’s 100-unit, high-end rental community, Optima Verdana. “The success of Optima Verdana has demonstrated the high demand for luxury new-construction multifamily housing on the North Shore,” said David Hovey, Jr. AIA, president of Optima, Inc. “Optima Lumina builds on that demand by offering the option for current residents looking to downsize from single-family homes as well as would-be North Shore buyers struggling to find a home due to the area’s low inventory of available housing.”

SL Green Realty Corp. announced the sellout of the exclusive Giorgio Armani Residences on Manhattan’s Upper East Side. All 10 residential units within the luxury condominium project are now under contract for gross consideration totaling $168.2 million. The sales are expected to close in the fourth quarter of 2024.  

“SL Green’s premier development platform, together with our partnership with Giorgio Armani, resulted in an extraordinary residential experience for buyers who understood the rarity of this New York City offering,” said SL Green CIO Harrison Sitomer. “We’re proud to have brought these select homes to market alongside such an esteemed fashion icon.” 

760 Madison was conceived in collaboration with New York-based architecture firm COOKFOX and the award-winning Victoria Hagan, who served as creative consultant to SL Green. The REIT said its ground-up new development reflects the classic nature of the Armani brand while respecting the historic aesthetic of the Upper East Side.  

Douglas Elliman Development Marketing has been the marketing and sales agency of record, led by brokers Sabrina Saltiel and Madeline Hult Elghanayan..