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FLATS Chicago

Is Flats Chicago a vacation rental scofflaw?

Flats Chicago

Chicago’s Vacation Rental Ordinance (“Ordinance”) has been on the books for several years, but a quick scan of Airbnb provides evidence that it’s being routinely ignored. Back in July we questioned whether Flats Chicago had the licenses required by the Ordinance for its Airbnb listings at 4875 N Magnolia. We also questioned whether Flats Chicago ...

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Posted by Joe Zekas on December 5, 2014

Are Flats Chicago’s Short Stay apartments properly licensed?

Airbnb Flats Chicago

Chicago’s vacation rental licensing ordinance (“Ordinance”) imposes a number of restrictions and requirements on short-term rentals for transient occupancy. For starters, it requires licensing and a payment of a fee of $500 per unit every two years. Flats Chicago’s Short Stay units at 4875 N Magnolia in Uptown are clearly subject to the ordinance, but ...

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Posted by Joe Zekas on July 8, 2014
ChicagoNorth Side

Lincoln Park apartments steps from the Metra

Flats No. 2500

We’ve written so often about Flats Chicago’s seeming ineptness and over-the-top hype that another post might seem like just piling on or kicking a cripple. When we saw a Craigslist ad for Flats No. 2500 touting its “steps from the Metra” location, we couldn’t resist providing visual illustrations of that claim’s literal veracity. If you ...

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Posted by Joe Zekas on April 29, 2014

Is Flats Chicago practicing review fraud?

Thumbnail image for Is Flats Chicago practicing review fraud?

YoChicago has zero tolerance for the comment fraud and review fraud that some inept landlords and rental services seem to find attractive. Our Privacy policy provides that you expressly waive its protections if you engage in deceit on behalf of a business in our comments. On April 14 a commenter with the screen name of ...

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Posted by Joe Zekas on April 21, 2014
ChicagoFar North

A report from another discontented resident at Flats No. 5411

5411 Winthrop

Less than two weeks ago we were shown around Flats Chicago’s 5411 N Winthrop by a dissatisfied resident. Yesterday another disgruntled resident at Flats Chicago’s 5411 N Winthrop reached out by email to share the following experiences, which I’ve rephrased slightly without changing the substance: Torrential downpours in my bathroom (no exaggeration – multiple points ...

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Posted by Joe Zekas on April 10, 2014
ChicagoNorth Side

Flats No. 2500 – how overpriced is it?

2500 N Clybourn

Let’s compare two very different two-bedroom apartment options in Lincoln Park: one at Flats No. 2500, 2500 N Clybourn, and the other at Eugenie Terrace, 1730 N Clark St. Flats No. 2500 (review) is near the far northwest edge of Lincoln Park on a bleak stretch of Clybourn Ave, nearly two miles from Lincoln Park, ...

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Posted by Joe Zekas on April 2, 2014
ChicagoFar North

A first look inside Edgewater’s Flats No. 5411

5411 Winthrop

Yesterday I walked through the common areas and an occupied apartment at Flats No. 5411, 5411 N Winthrop in Edgewater, at the invitation of one of the residents. There’s a fitness room adjacent to the furnished lobby. The fitness room was comparable to what I’ve seen in similar-sized buildings. The resident told me that the ...

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Posted by Joe Zekas on March 27, 2014
ChicagoNorth Side

FLATS No. 2500, 2500 N Clybourn Ave, Lincoln Park

FLATS No. 2500

FLATS No. 2500 is a 4-story, 27-unit apartment building undergoing construction at 2500 N Clybourn Ave, near the northwestern edge of the Lincoln Park neighborhood. The project began as a condominium in 2005. It went into foreclosure in September of 2010 and was acquired by the current owners, an affiliate of FLATS Chicago, in July ...

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Posted by Joe Zekas on February 18, 2014
ChicagoFar North

Grading Flats Chicago – Incomplete, Fail

5718 N Winthrop

As Flats Chicago cranks up its hype machine with an eye on the spring rental market, we’ll try to provide an occasional reality check. Start with the current screen cap from Flats’ website: reservations were being taken last June for four buildings, only one of which has apartments ready for occupancy. But first, a look ...

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Posted by Joe Zekas on February 3, 2014
ChicagoNorth Side

Flats Chicago still falling flat on Clybourn

2500 N Clybourn

In June of last year we suggested that “when hype runs far ahead of performance in real estate the performance more often than not falls flat.” We were writing about Flats Chicago, a company whose website goes into warp speed on hype and leaves reality far, far behind. Last June Flats Chicago’s Jay Michael told ...

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Posted by Joe Zekas on January 22, 2014

Flats Chicago – proceed with caution, renters

5718 N Winthrop

We’ve been following the progress – or lack thereof – on Flats Chicago buildings for some time. Our interest was initially piqued by what struck us as a near-zero correlation between the company’s hype and the facts behind it. Back in June we reported, with a skepticism not exhibited in other media reports, Flats Chicago’s ...

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Posted by Joe Zekas on November 14, 2013
ChicagoNorth Side

Behind the façade at Flats Chicago on Clybourn

2500 N Clybourn

We’ve recently had a commenter claim to be a resident of Flats Chicago. It’s likely that he’s either a shill or a troll. Another commenter on the same post, Soon to be Chicagoan, claims he was slated for a November move-in that was delayed, at an unspecified property. We stopped by 2500 Clybourn yesterday, a ...

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Posted by Joe Zekas on October 30, 2013
ChicagoFar North

Media math not very sharp on Flats Chicago

1020 W Lawrence

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 ...

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Posted by Joe Zekas on August 8, 2013
ChicagoNorth Side

What’s up with Flats Chicago?

2500 N Clybourn

In mid-June we were told that Flats Chicago’s projects at 2500 N Clybourn and 7722 N Ashland would be ready for occupancy in early July. That hadn’t happened when we visited on July 4 for the above shot. We stopped by all of the Flats Chicago projects about 10 days ago and they all remained ...

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Posted by Joe Zekas on July 31, 2013
ChicagoFar North

Will flat-out hype fall flat at Flats Chicago?

4875 N Magnolia Chicago

In my experience, when hype runs far ahead of performance in real estate the performance more often than not falls flat. Will that prove to be the case at Flats Chicago, a hyper-active attempt to conjure a positive brand for a group of buildings with troubled histories and sub-par locations? Flats Chicago has garnered a ...

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Posted by Joe Zekas on June 19, 2013

Stale quote of the day – Uptown floodgates are opening

Montrose Harbor

Here’s the lede to a TimeOut Chicago piece on 1325 W Wilson, an Uptown building that began its life as the the Norman Hotel in 1929, was rehabbed by Peter Holsten in the late 80s, and has had a spotty history since then: The hallways of Wilson Tower, a 12-story midrise at 1325 West Wilson ...

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Posted by Joe Zekas on September 26, 2012