Nearly a year ago the Sun-Times’ David Roeder reported that the seven buildings being branded as Flats Chicago totaled 1,200 units.
Two days ago Crain’s Chicago Real Estate Daily reported that Flats Chicago was adding the troubled Lawrence House, 1020 W Lawrence in Uptown, to its portfolio. Flats Chicago’s Jay Michael was quoted as saying that the building will have “about 350 apartments” after it’s renovated. According to Crain’s:
The building will be the eighth Flats location in Chicago, Mr. Michael said. The nearly 1,500 Flats units in the city make up about half of Cedar Street’s apartment portfolio.”
Add 350 to 1,200 and the result is “nearly 1,500″ – until you take a closer look at the seven buildings that added up to 1,200 units. There are
153 units at 1325 W Wilson
27 units at 2500 N Clybourn
76 units at 4875 N Magnolia
35 units at 5051 N Kenmore
98 units at 5411 N Winthrop
75 units at 5718 N Winthrop
25 units at 7722 N Ashland
The numbers add up to 489, far short of 1,200. Add 350 units at the Lawrence House and the count is 839, far short of 1,500.