ChicagoDowntown / Loop

This week’s South Loop apartment availability changes

by Joe Zekas on 12/20/12

If you’ve been closely following our weekly report on what’s actually available for rent in the South Loop you’ll notice some significant changes this week.

Two buildings are offering 1-bedroom units at more than $200 below the previous week’s lowest rents, and two other buildings have 2-bedrooms at more than $600 below last week’s highest rents. In every case the difference doesn’t represent price-cutting, but simply reflects a change in the mix of units available for rent and rented.

Terrazio, 1935 S Wabash, had been the only South Loop building not offering a near real-time online availability check. It now has that feature available on its website.

The website for the Regal, 651 S Wells, now defaults to a generic page for the company that had been managing it. This probably reflects a change in ownership or management, and we’ll be monitoring the building’s status.

In other South Loop rental news, a a Crescent Heights affiliate has acquired approximately 3 acres of land in a parcel fronting Grant Park and another a block south of it.

If you want to rent in the South Loop, you can see all of your managed apartment building options on YoChicago’s South Loop availability list.

There are only a dozen large apartment complexes in the South Loop, and we’ve listed all of them in this Google spreadsheet, and checked what’s available for rent, and what the rents are, in all of them. The spreadsheet is accurate as of the close of business yesterday. Rents listed are for 12-month leases for apartments available now through next month. All of the buildings accept cats and dogs subject, in some cases, to weight and breed restrictions.

Our spreadsheet contains links to each building, links to videos where available, and links to near real-time availability checks for the buildings that offer that feature. The spreadsheet, which is updated weekly, also has links to several reputable major brokerage sites where you can search MLS-listed condos and townhomes available for rent.

If you’ve been searching Craigslist for South Loop apartments you already know you’re wasting a lot of time and encountering a lot of bait-and-switch ads. You’re unlikely to find anything at Craigslist that you won’t find through Yo’s list.

If you’re considering working with a rental service / finder, consider the twenty-five things rental services won’t tell you. Consult our do-not-call list for the rental services – virtually all of them – that engage in deceptive behavior, or worse. Support our Craigslist Apartment Cleanup campaign by liking our Facebook page.

Our featured property this week is Astoria Tower, one of our sponsors. You can tour the building’s updated amenities in the following video:

We think there’s no faster or easier way to find your next apartment in the South Loop than our availability list. If you know someone who’s looking to rent in the South Loop, send them a link to this post or to the spreadsheet.

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{ 2 comments… read them below or add one }

Fred December 20, 2012 at 9:10 AM

I know someone who lives at the Regal and the building did indeed change hands this week. It was owned by Reinhold Residential and is now owned by TLC Management Co. I have not seen any press about this, but I did read the letter they sent to all residents.

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Joe Zekas December 21, 2012 at 12:15 PM

Your info is good. Crain’s just reported on the sale to TLC.

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