Quote:
Originally Posted by LouisVanDerWright
I heard from a fairly reliable source (though he is somewhat biased as he builds similar buildings elsewhere) that 2215 n Milwaukee, a/k/a "L", hit 1/3 leased almost instantly then crickets. That would explain their odd "we will provide you roommates" leasing campaign offering furnished apartments and unit sharing. Either the market is oversaturated, there just isn't a market for that kind of price point that far up Milwaukee, or the twin towers are raining on that developers parade. Either way Milwaukee Ave is becoming severely over built in my estimation.
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Assuming that the availability shown on the website is accurate, they're way past 1/3 leased. It only shows 8 available units across all move-in dates and unit sizes. For example, it only shows one 3-bedroom available, for $3,300 a month. That's about what 1-bedrooms go for in the 707 N Wells building in River North, so it's still a good value for new construction overall.