The floor plans above represent your options for one-bedroom apartments with dens at Golub & Company‘s two Solomon Cordwell Buenz-designed towers in Streeterville: The Streeter, at 345 E Ohio St, completed in 2007, and Streeter Place, 335 E Ohio St, completed in 2009.
Tier L units (above left) are located on the southwest corners of floors 13 through 48 at The Streeter. Each of these 1,043 square-foot homes has an en suite bedroom and full bath and a powder room, a west-facing balcony, a powder room adjacent to the kitchen, five closets, southern views from the bedroom and main living area, and a west-facing balcony. Rental rates prior to concessions run from about $2,500 to $3,000 a month.
At Streeter Place, renters have the choice of two one-bedroom-plus-den plans: the 975 square-foot Tier O on floors 12 and 13, and the 1,067 square foot Tier M (above right), located on floors 3 through 11. The two styles are roughly the same shape and are located in the same position on the tower’s western side. Neither unit has a balcony or a powder room, and their bathrooms are located near but outside the bedroom area. Unlike the Streeter unit, which has more of a split floor plan and its bedroom door off the main entry hallway, both Streeter Place units have their bedrooms and dens lumped together on the far end of the unit and are accessible only by walking through the living room. These homes are available for $2,284 to $2,527 a month before concessions.
Read reviews of The Streeter on Yelp and Apartment Ratings, and of Streeter Place on Yelp.
After a day of looking at MLS condos my client selected Streeter Place. This is a fantastic property – the common areas ares over the top: pool, steam, plunge, deck, gym, business center… Makes me wonder if they plan to convert at some point.
Thanks for the post about Streeter and Streeter Place. Just to clarify, The Streeter is no longer owned nor managed by Golub and Co. It was bought by a REIT and is now managed by Village Green. The reviews of The Streeter speak for themselves; a poorly constructed building with terrible management. With a 43% rating, I will not even take my clients there.
Streeter Place is still owned and managed by Golub and Co and is almost 97% leased. As the “maggot” that leased over 60 units there, your readers may also like to know that the 1 BR plus Dens you referenced on this post are inferior and more expensive that the more popular E and H floor plan that feature a smaller den but better “bang for the buck.” But again, I’m just a lowly maggot so why would anyone want to utilize that knowledge?
YoChicago, do us all a favor and stick to what you know…and it pretty obvious it’s not the downtown A class apartment market.
Halsted, it seems like you’ve flip flopped a bit on your amazing MLS listings. Is it possible that the rental buildings do offer a superior value for the right client…the ones that don’t have time or energy to deal with the many variables of a condo owner?
Aaron:
The post should have said “Golub & Company-developed” — you’ll note that I never said it was managed by Golub.
You’ll also note that the post never endorsed either of these units or their buildings, or ventured to give an “expert opinion” on either. That’s exactly why we linked to the reviews. It’s also why we keep posts open for informed comments, free of solicitation for business.
It’s good to know that there are one-plus-dens in Streeter Place beyond what the development itself advertises (Units E and H are both characterized as simple one-bedrooms, but I can see in their floor plans that both have office nooks and den-like areas), and I appreciate you pointing that out to our readers. Not sure how your potential customers are supposed to react to the tantrum that follows.
Aaron clearly you are killing it in this market. Congratulations.
Aaron, do you know the name of the REIT that bought The Streeter?
Wilson,
The Ohio Teacher’s Retirement System bought the building in 2007. Here is a link to the Crain’s article: http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=25523.
As for the rant, it is mainly directed at the continuous posts from Joe Zekas referencing apartment locators as maggots. While his comments have some merit with regard to the industry, his insistence that an apartment locator could not possibly offer a service that helps renters is incredibly obtuse. He has jumped down the backs of everyone who has offered an opinion and it has become quite polarizing and alienating to many readers. If you have any questions about the downtown apartment buildings, I am happy to act as a resource…with no intention of promoting my business.
Aaron Galvin,
Aaron,
What irritates you more – my hammering at the locator industry or my pointing out the dishonesty on your Web site and your continuing lack of compliance on your Web site with simple requirements of broker licensing law?
There are many legitimate brokers out there who perform a service in helping people find apartments and MLS-listed condos. I’ve said that repeatedly over time and in the course of the threads you’ve participated in while you duck the legitimate questions I’ve raised about your behavior and your business ethics.
A cynic (and I’ve been one for a long time) could easily conclude that you want to make your life easy by showing only a limited number of apartments and showing only those that pay a full commission. I have no problem with that if only you were honest about it.
If you had any genuine confidence in your “service” you’d pitch it purely as a service and skip the BS “search” on your Web site. Why not simply tell people what exactly it is you do – steer people among one of a dozen buildings that pay you a full commission? Why not simply list the buildings? And when are you going to remove the liar’s list of “condos” on your site?
You’re exhibiting classic, flagrant maggot behavior here, Aaron. Nothing more.
I’ll continue to do my best to polarize readers here against dishonest brokers who don’t comply with Illinois law.
Joe,
Actually it’s neither of the two. What bothers me most is that because you don’t like my SEO practices, you’ve discounted the knowledge and expertise I bring to this arena.
Many of the full service, traditional realtors have started to get into the downtown rental game, but have absolutely no clue about this industry. They do a disservice to their clients by dragging them around to unit after unit after unit. These clients then come to me after their time has been wasted by your realtor friends and I help them find the exact property they are looking for.
In my conversations with potential clients I’m very upfront with how the business works. The reason there is a search function on my site is that my analytics allow me to see each individual site path so that I have a true indication of what clients are really looking for down to the exact criteria they have entered.
I do offer condo options, but have no need to put these units on the MLS as I get enough leads through my website. I also won’t work with just any condo owner. I only work with owners I have a relationship with, or who have been referred to me and are in good standing on their mortgage and with the condo boards. This way my clients never get screwed in the end with a foreclosure or absentee landlord.
More importantly, you keep referring to specific broker licensing law that I am not in compliance with. I have read the IL License Law, especially as it pertains to advertising and the internet, and outside of not providing the actual address of the property, I’m not sure what you are questioning.
If it’s not having my name on each listing page, I can do that easily, but don’t see the value in listing myself over and over again. My agents don’t have individual listing agreements. I handle all leads to maintain quality control.
Please enlighten me to what it is I’m missing. Instead of condescending me, can you please provide some constructive criticism that I can learn from. I headed your request to remove the BBB logo and I’m not so cavalier that I can’t recognize where I’m wrong and make the proper changes.
I am honest about how I make a living to my clients when I speak directly with them, but I see no reason to put that on my website. I do provide a descriptive link to my site to the clients that I ultimately end up working with that describes our service, company and the types of properties we work with, but see no need to divulge that information on my site initially. Do you have a section on your site that describes the commission you get from your sponsored posts or how you make a living from Yo Chicago? No, because it wouldn’t be appropriate.
As far as listing the buildings, which we have talked about in a previous thread, I would love to do that, but need to protect myself. I’ve been working really hard to come up with a strategy to change this industry and make things more transparent for the clients, but it’s not going to happen over night.
We do tell our clients that we are only going to show them a handful of properties that best fit their criteria and maximize their search time. The fact that we don’t run from Skokie to Joliet makes us efficient and allows us to become experts on the part of town we focus on, which is a huge service to clients. We can tell them where to eat, shop and play without having to consult Metromix. While we are at it, we’ll tell them which floor plan will give them the best bang for their buck (i.e. the Streeter Place E and H units, which is what this thread was all about).
Please send me a link that explains the IL law I’m not in compliance with. I want to make sure I’m above board. However, if history holds, I’m sure you’ll come back at me saying that if I don’t know what I’m doing wrong I shouldn’t be in this business.
Aaron,
At the outset of our discussion I specifically instructed you as to the provision of Illinois law you were violating. Revisit this comment. The Illinois law and regulations are crystal clear as to how you need to disclose who the broker is on your Web site. Read it. It’s something you should have done before setting up your Web site. If you can’t grasp it, hire an attorney.
Our NewHomeNotebook site spells out our advertising practices and prices in a fashion you say we don’t.
What you call “SEO practices” I call dishonest bait and switch.
Many full-service Realtors have lived in, been active in, and been knowledgeable about the areas you serve far longer than you have. Misleading consumers about how they operate is unprofessional
I remain convinced that you have zero interest in being above board. If you had any, you’d immediately disable the links on your site that lie about condo rentals. But hey, those lies are good SEO bait.
Spare us the continuing stream of BS about your secret-sauce expertise. Anyone can spend a few hours visiting your buildings and determine which offer the best values. Besides, consumers determine that on an individual basis rather than brokers on an across-the-board basis.
From what I can see the only bang for the buck you care about is your own. My educated guess is that you limit what you show to the buildings that cooperate with you and pay you a full commission, regardless of whether those buildings offer what your consumers might consider the best bang for their buck.
Let’s debate your business practices in a video interview where we can clarify for consumers the value of the service you provide. I’m up for that if you are.
That sounds like fun. Will this video happen?
MC,
No word yet from Aaron. If he does take me up on this I’ll have lots of questions for him.
Among many other things I’d love to hear him explain why he won’t take people to The Streeter. oh, wait … he explained in his comment above:
“The reviews of The Streeter speak for themselves; a poorly constructed building with terrible management. With a 43% rating, I will not even take my clients there.”
Given that approach, I’d like to know why he WILL take people to Sky 55, which has a 27% rating at ApartmentRatings. Why do the reviews speak for themselves at one complex and not at the other?
Aaron?
Joe-
I have tried to have a constructive conversation with you but to no avail. I have consulted two attorneys as well as Laurie McDougal, one of the authors of Modern Real Estate Practice in Illinois, the book CAR uses for all Salesperson and Broker classes. I am awaiting feedback from them regarding what is not in compliance. Obviously it’s not as crystal clear as you say.
As for the SEO, I will clean it up so the links all go to the appropriate places as soon as I get a few hours.
Through our dialogue I have come to this conclusion. You are not the apartment rental regulatory system. You can have your opinions about the industry and I will have mine, but I don’t need to answer to you.
As for a video interview, I don’t trust you and do not feel comfortable providing you with footage that you can edit, cut and manipulate any way you would like. I am not going to be your “maggot poster boy.” In fact, I have no interest in reading your blog or engaging you ever again. At the end of the day, you are just a bitter, cynical and malignant man. You are a distraction that I will not allow to take me off course. Good Riddance!
Aaron,
Bitter, cynical and malignant? Don’t trust the way I would edit the footage?
I’ll cop to cynical, and aspire to being a malignant force with regard to maggots. You have the bitter part wrong, as you have so much else wrong.
I don’t think you have any concern about the integrity of my video editing. I think your real concern is how well I’d be prepared for that video and how thoroughly I’d discredit your lying non-service and what a hard-core maggot you’d be revealed to be by the end of it.
I note that you still haven’t addressed the blatant lies about condo rentals on your site.
And, since you’re not going to answer my question as to why it’s OK for you to take clients to Sky 55 but not The Streeter, I’ll answer it for readers.
The Streeter only pays half a commission, and I believe that’s the only reason you trash it in our comments here. In my book, Aaron, that’s absolutely disgusting behavior that should bar you from being in business. I see you as someone who casually slimes a reputable management company without hesitation and without any regard for your clients’ interest to make yourself an extra buck.
You won’t be missed, Aaron.