Sticker shock at lease renewal time might just prompt you to explore the benefits of purchasing a new, move-in ready condo at 1345 Wabash in the South Loop – and you’ll like what you find.

Unit 802, a 2-bedroom, is priced at $297,900. With a 10% down payment, a mortgage of $268,110 at 4.375% with lender-paid PMI, monthly assessments and property taxes of $283 and $397, respectively, your total out-of-pocket payment is $2,019 a month.

Income tax benefits will vary with individual circumstances, but are likely to reduce your effective cost of ownership by several hundred dollars a month.

Substantial monthly savings aren’t the only benefit of ownership. The condos at 1345 Wabash have a loft aesthetic with high ceilings, hardwood floors, exposed concrete ceilings and beams, open spaces, large windows, private balconies and designer finishes.

One-bedrooms at 1345 Wabash currently start at $233,900 and two-bedrooms at $297,900.

1345 Wabash has a stellar, pedestrian-friendly South Loop location, with destination restaurants on the same block and scores more within a few minutes’ walk. The CTA transit hub at Roosevelt Road, Jewel-Osco and Trader Joe’s are just over a block north.

The 1345 Wabash sales center is open on-site, and furnished models are available for viewing.