More student housing headed for the Loop?

The Sun-Times is reporting on a proposed conversion of 20 and 28 E Jackson, and the Pickwick Stable between the two buildings, into 199 units of furnished graduate student housing. The location is directly opposite the DePaul Center and DePaul’s College of Law.

According to the Sun-Times:

The stable between the two buildings survived the Chicago fire. It could be converted into a student lounge or meeting room. The $32 million “gut rehab,” also calls for the three buildings to be connected by some sort of indoor breezeway.

With 23 colleges, universities and professional education schools, the Loop has become a campus unto itself with more than 65,000 students attending classes. Roughly 11,000 of them are grad students, creating a market developers hope to fill at Wabash and Jackson in the fall of 2013.

The 199 furnished one- and two-bedroom apartments would have full kitchens and rent for $1,150 to $1,350 a month.

The Sun-Times report leaves the impression that a stable that survived the Chicago Fire is still standing. According to Chicago Architecture Info “official city records put the date of completion of this building at 1892,” 21 years after the fire.

The rents quoted by the Sun-Times are likely per-bed rents, translating to at least double the amount quoted for 1-bedrooms and quadruple the quoted rent for 2-bedrooms.

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