Who Can Afford the Rents? Unwind in Luxury at 1714 W. Roscoe in Lakeview
The Centrum Lakeview, a luxury boutique apartment building, at 1714 W. Roscoe in Lakeview just finished construction and is now leasing.
Anyone who takes the Brown Line from the north side has watched this building go up because it is right next to the Paulina Brown Line stop.
It has 39 units and just 7 parking spaces, but the whole point of the location is that you’re supposed to take public transportation if you live there so there isn’t parking for every unit.
There’s not a lot of new apartment construction in this neighborhood.
The units have luxury finishes and include in-unit washer/dryer and central air.
The kitchen cabinets are Italian designer cabinets by Abaco by Snaidero. There are pearl quartz counter tops in the kitchen and bathrooms.
The floors are Balterio gray-tone plank throughout.
The units have floor to ceiling windows and the windows on the north side, which face the L, are acoustically treated to abate the noise.
A Bow Truss Coffee is supposedly going in on the bottom floor.
Here are some of the units and the rental prices:
- A 542 square foot studio: $1822 a month (this is the cheapest unit in the building)
- A 835 square foot 1-bedroom: $2720-$2765 a month
- A 1031 square foot 2/2: $3143-$3225 a month
The building also allows 2 pets per unit. There is a $500 non-refundable pet fee for the first pet and a $300 pet fee for the second pet.
Additionally, there appears to be a $25 a month pet “rent” as well. See the details here.
We have seen rents at these price points (and per square footage price point) in many of the new construction apartment high rises in the downtown neighborhoods.
Can they get these prices for a building on the border of Lakeview and Roscoe Village?
And who is the target renter for this?
You can check out the building’s website below, which also includes some pictures of the interiors of the units and the building amenities.
Website: Centrum Lakeview
I think they might..I looked at a few 2/2’s in this neighborhood and anything that had “luxury” finishes was 3000 +. I offered an owner asking price for a 1300 square foot 2/2 at 3200 and was outbid by another renter at 3400. Market makes no sense right now but it is what it is.
These rents are insane. You can rent sizeable vintage 1 br around here in decent repair for like 400-500 less than that studio. Better to do that and accumulate a down payment so you don’t participate in the foolishness that is renting here for the next decade.
You can rent sizeable vintage 1 br around here in decent repair for like 400-500 less than that studio.
Can you?
I’m not so sure.
I just saw a nice vintage unit with w/d in the unit and parking in West Lakeview for $1695. Older kitchen and bathroom. Central Air. 3-flat walk-up. It’s bigger than the studios in this building but the price isn’t that much better.
do these buildings include all utilities, like internet, cable, gas and power? I mean its not a terrible deal if they make it turn-key like that but I doubt they do that… I rented a POS garden unit nearby for about a dollar per sqft per month about 10 years ago lol
“The rent is too damn high”
Why is everything “luxury” these days? I’d rather rent in a “non-lux” building and pay less.
DAT ROOFTOP WOULD BE LUXURIOUS TO PLAY A GIG. WHOS ON??!!!!!!!! LOLZ!!!
Just don’t get these prices for THIS neighborhood. Lincoln park, or even DePaul area, maybe. But lakeview? I understand that it’s a nice enough part of the city, and it has some great blocks – , but it’s still littered with strip malls and is very congested.
“littered with strip malls”
When I think “strip mall” I think west lincoln park.
Are you suggesting that this is too close to Ashland for a *rental* building??
“Are you suggesting that this is too close to Ashland for a *rental* building??”
Yeah, I think so. At this price point I would expect this building to be on southport or south east of southport.
Who would pay 3200 to live right off the brown line Paulina stop in a 1000 square foot 2/2? Am I the only person this sounds insane to?
Not me, but somebody will is my bet.
Paying this much rent to live next to the train (and no parking) IS insane. I’m not sure what demographic they are going after.
“It has 39 units and just 7 parking spaces, but the whole point of the location is that you’re supposed to take public transp”
Wasn’t there a rule that new construction had to have at least one parking spot for each unit?
“Wasn’t there a rule that new construction had to have at least one parking spot for each unit?”
Not if it’s designated as a Transit Oriented Development (TOD), which this clearly meets if it’s next to an L station. Some TOD’s have no parking at all (mid-rise at Ashland & Division) and most of the new developments along Milwaukee in Logan Sq. are TOD w/ parking for only a tiny fraction of overall units.
Makes sense that not all units need parking, but even when close to transit it still seems like more than 15-20% might have a vehicle — of course kind of hard to afford those rents and the costs of car ownership!
Who is the target market? People from New York who think this is a deal.
Another TOD was in the news when a biker was killed out front of it. Ironic that construction blocked bike lanes for months, contributing to her death, while the developers get to reduce parking ratio for these because they reduce traffic.
I have to admit the place looks pretty cool. Its downtown expensive, but for someone who wants a neighborhood, no car and luxury seems like a decent combo.
I just gotta say, I love the kitchen sink. I have the same one — you can mount it as a drop-in, under-mount or my fave, flush-mount.
The rent is too damn high though!
“Ironic that construction blocked bike lanes for months, contributing to her death”
That certainly is what was reported, but it doesn’t seem to be true.
She was run over just north of Racine, while that construction zone is right at the end of elston, about a block south.
Rental market is so hot around the city that it makes you wonder why people sell properties these days when you can just rent them out for a positive cashflow.