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With all the talk of the South Loop’s condo glut and yet another new-construction condo development converting to rental, I figured it was time once again to see what it takes to rent in one of the neighborhood’s new high-rises.
First up is Marquee, Sedgwick Properties‘ 25-story tower at 1464 S Michigan Ave. Sedgwick’s Jameson Real Estate sales team is still marketing 13 unsold homes in the building including one-bedrooms priced in the $230s, two-bedrooms priced from the $280s to $360s, and three-bedrooms priced from the $440s to $970s, but the developer has also brought Jennifer Mills of Koenig & Strey GMAC to market those homes as rentals.
Among the rentals currently listed on the MLS are:
- One-bedroom / one-baths: $1,400 to $1,495 per month
- Two-bedroom / one-baths: $1,650 per month
- Two-bedroom / two-baths: $1,795 to $2,095 per month
- Three-bedroom / two-baths: $2,700 to 3,195 per month
- Three-bedroom / 2.5-baths: $4,695 per month
Sedgwick’s standard finishes included oak hardwood floors in living rooms, dining rooms, kitchens and hallways; baths with stone floors; wood kitchen cabinetry; granite countertops; stainless-steel kitchen appliances; and berber carpet in the bedrooms.
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{ 5 comments }
why can’t they just lower the price instead of going rental?
The Roosevelt Collection going rental doesn’t help.
Isabel,
I think it’s just the easy way out for them. But I don’t understand what’s going to happen with all this buildings switching to rental. All these rentals will ruin the allure of the South Loop.
So thankful Marquee rejected my offer of $435 including parking on a 3 bedroom/2 bath last summer! They didn’t even counter b/c they said my offer wasn’t worth the counter. The unit is now available as a rental.
I came across this today:
Major Price Reduction at the Marquee Condominium
http://marqueeblog.com/2009/08/14/major-price-reduction-at-the-marquee-condominium.aspx
But there’re not much details.
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