Flipper Alert: Flippers trying to find renters at The Chess Lofts
Sometimes even the flippers get realistic.
Such is the case with The Chess Lofts which recently started closings and which currently has many more units for rent than for re-sale.
The Chess Lofts, at 320 E. 21st in the South Loop – near the Prairie Historic District – is a true loft conversion of the old Chess Recording Studios.
The developer is also still selling units and offering 1 year of free assessments.
The prices range from $232,000 for 628 square foot one bedrooms to $452,000 for two bedroom, two baths.
Stats for the building out of 119 units:
- 5 for sale (but may be more as the developer doesn’t usually list all of the available units)
- At least 8 for rent
This is one of the rentals:
Unit #210: 2 bedrooms, 2 baths, 1150 square feet
- Currently asking $1900 a month
- Parking is $150 extra
- Rent includes heat, air, cable
- No pets
- From the listing, it looks like both bedrooms have windows
- Koenig & Strey has the listing
Rents range from $1350 to $2000 a month.
One owner is trying a three month “deal” on Craigslist where the renter gets in at $950 a month for the first three months and then goes up to $1350.
Only about a quarter of the building has closed so far.
The Chess Lofts [website]