DealsChicagoDowntown / Loop

Is Fornelli Tower the best apartment deal in the Loop?

by Joe Zekas on 1/24/13

A Crain’s Chicago Real Estate Daily article on student housing reminded me that I’d been meaning to check into the status of Fornelli Hall, a student housing development that occupies a number of floors at the Pittsfield Building, 55 E Washington, in the Loop.

I’d been hearing that some of the apartments in the building were being rented to the public, not just to students. Crain’s quoted a representative of Fornelli Hall as saying that “rents … are down 20 percent vs 2008 because of increased competition,” which would explain seeking a broader market for the apartments.

Apartments in the Pittsfield Building are currently being marketed as Fornelli Tower. A leasing representative at the building told me that 1-bedroom rents started at $1,199, two-bedrooms at $1,399, and 3-bedroom, 2-bath units ran upwards from $1,500. Thinking I might have misheard, I asked her to repeat the prices.

Whether you find these to be the best deals in the Loop will depend in part on how adaptable you are to living among college students and whether you find the floor plans workable.

You can read some of the history of the Pittsfield Building at DesignSlinger.

You can see more of YoChicago’s aerial photographs at Flickr.

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