Will the downtown rental market boom or go bust this spring?

One of my correspondents sent the following brief note: “Nothing is moving. This spring is going to be huge for rentals or a bust.” Not much guidance there!

The buildings that came to market last year, including SoNo East, Randolph Tower and 1225 Old Town, reported leasing up rapidly with minimal concessions.

The 496-unit K2 at K Station and 515-unit Coast recently began their leasing programs. Also coming to market this year will be the 325-unit Optima Center, 500 N Lake Shore Drive (500 units), AMLI River North (427 units), and Hubbard Place (450 units).

You can see the status of all of the new downtown apartment projects at YoChicago’s at-a-glance list.

AMLI River North, pictured above, recently topped out and is nearly fully-enclosed. Architecture buffs are anxiously awaiting the painting of the concrete to determine whether the building establishes a positive visual presence on the skyline.

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