ChicagoNorth Side

Flats No. 2500 – how overpriced is it?

by Joe Zekas on 4/2/14

Let’s compare two very different two-bedroom apartment options in Lincoln Park: one at Flats No. 2500, 2500 N Clybourn, and the other at Eugenie Terrace, 1730 N Clark St.

Flats No. 2500 (review) is near the far northwest edge of Lincoln Park on a bleak stretch of Clybourn Ave, nearly two miles from Lincoln Park, the park. Eugenie Terrace (review) is directly across from the park and a short walk from some of its major attractions. It’s Lincoln Park’s premier rental high-rise.

A Flats 2-bedroom, 1-bath on the second floor is currently being offered at $2,600. Three 2-bedroom, 2-baths are available at Eugenie Terrace on the 27th through 43rd floors, priced from $2,493 to $2,560.

The Flats unit is described as “Incredibly HUGE.” The Eugenie Terrace 2-bedrooms, at 1,175 square feet, are larger than the Flats unit.

The Flats unit has a private deck and in-unit washer/dryer. Eugenie Terrace 2-bedrooms have neither.

The Flats unit is directly across an alley from the Metra tracks. Eugenie Terrace 2-bedrooms are corner units with spectacular views.

Eugenie-Terrace is a full-amenity building with 24/7 door staff, on-site management, sprawling party rooms, a large top-floor fitness center, a business center, guest suites for overnight visitors and a rooftop pool / sundeck with spectacular views. Flats No.2500 has an elevator.

You can tour Eugenie Terrace and a 2-bedroom, 2-bath in the above YoChicago video.

Continue making your own comparisons, bearing in mind Flats Chicago’s track record of missing delivery dates.

It’s hard to find a worse location in Lincoln Park than Flats No. 2500. It’s easy to find 2-bedrooms in far more attractive Lincoln Park locations for less than $2,600. Expect Chicago’s rental services to be engaging in some major-league reality distortion to rent Flats No. 2500.

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{ 2 comments… read them below or add one }

Benjy April 3, 2014 at 11:42 AM

LOL… what a joke! And what are rental rates for 2BR units on condo buildings? I live in one LP highrise right across from the park and I believe they are running about $2k or a little more.


John Lyons April 7, 2014 at 9:26 AM

I believe the premium price is due to being new construction.


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