More South Loop Condo Rentals Coming!

Don’t have the money for the down payment to purchase a condo but still want to live in the South Loop? Well you could try renting instead. The South Loop just 4 years ago had 16+ building cranes working on or completing numerous condo buildings. Crash! The South Loop real estate boom burst. The area was inundated with see through condo buildings-skyscrapers you could see through from one side to the other as the result of unsold and vacant condo units. This has resulted in a reverse conversion-planned condo buildings being converted into rental buildings in the South Loop. The South Loop now has more new construction rental buildings than anywhere else in the city of Chicago.
You can now add Lexington Park to the list of condo to rental conversions in the South Loop. It is located at the intersection of Cermak and Indiana-a stone’s throw from the McCormick Expo center. It was originally developed as 297 condos within a 35-story tower with additional space in a connected seven-story loft building. Now, the South Loop will see these condos converted into more  than 300 apartments, according to ST Residential LLC, which has taken possession of the condo development..
ST Residential will be upgrading the project’s common areas. Marketing will begin shortly and new residents should be able to move into this new South Loop rental building this summer.
Contact Fred Scovell at  Chicago Viewpoint for more information on South Loop condos and rentals.