ChicagoSouth Side

Pilsen apartments for $7,000 a month

by Joe Zekas on 5/1/12

Put 10 students from local universities in a 5-bedroom, 2-bath apartment at $700 a month each and you have a $7,000 a month rental at La Casa in Pilsen.

The monthly rate’s not out of line with other student housing in downtown Chicago. If anything, it’s toward the lower end of the range, and it comes with a planned range of support services and some common area amenities.

La Casa has excellent access to public transportation and a lively street scene at its front door, but less than optimal proximity to local colleges and universities.

According to The Resurrection Project’s website, La Casa is funded with an $8.4 million capital grant from the Illinois Department of Commerce and support from philanthropic donors. The total cost of the 10-unit project was reported to be $11.6 million.

To qualify for La Casa students must be eligible for Pell Grants or be “a member of a household that is of low- to moderate-income levels.”

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{ 1 comment… read it below or add one }

IrishPirate May 1, 2012 at 2:17 PM

Ok, let me take out my abacus.

That comes out to 1.16 million dollars per unit?

I’m really in the wrong business.

I’m giving up running cocaine in from south of the border on submarines and I’m going to become a developer who builds stuff like this. The downside is less and the upside is comparable.

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