A number of smaller new West Loop apartment buildings built by Michigan Avenue Real Estate Group have leased up rapidly, at rents comparable to those charged at full-amenity towers in the neighborhood.
All of the 54 new apartments at 20 – 22 N Aberdeen, which became available for occupancy beginning July 1, have been rented. The sole remaining unit is a 2-bedroom, 2-bath priced at $2,500 a month.
The complex included two studios renting for $1,500, 14 1-bedrooms renting from $1,900 to $2,700, and 38 2-bedroom, 2-baths priced t $2,500 to $3,400. A covered parking spot was included in the rent.
Eight of the 24 2-bedroom, 2-bath units at 1000 W Van Buren, which is slating September occupancy, have been pre-leased. Units in the building are being offered at $2,600 to $3,200 a month.
Construction is well along at 1615 W Warren, where Michigan Avenue Real Estate Group is touting 52 units as “Coming soon.”