July 28, 2010 – Even though there are record numbers of both Chicago condos for lease as well as new construction Chicago apartments hitting the market, the demand for rental units seems to be holding steady. Alta at K Station, a project of Chicago real estate developer Fifield Cos., opened the 37 story west tower this March and the 41 story east tower this month, according to an article in GlobeSt. The west tower is already 60% leased and a total of around 350 apartments in all have been rented in both towers.

There are 848 studio to three bedroom apartments in the two rental towers and according to the article, nearly 30 lease contracts have been signed per week for several weeks now. Rental rates had been listed around $1,295 to $3,100 per month.

Once again it seems to be the amenities package that is drawing renters to this project. The 32,000 square foot Club K has a fitness center, full gym, movie room that seats 24, party room, cafe, Olympic-sized outdoor pool, sun deck and cabanas. The towers also have a lounge, business room and 700 parking space garage.

Fifield Senior VP Alan Schachtman was quoted in the article as saying that, “We’re not seeing much, if any, push-back on rental rates, there seems to be plenty of people willing to lease. There’s just not a ton of product like this out there.”

With so many Chicago Apartments like Alta at Ka Station for rent right now at competitive rates, you should really shop around before you sign a lease to make certain you get the best deal available.

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This entry was posted on Wednesday, July 28th, 2010 at 4:11 pm and is filed under Luxury Condos(t) . You can leave a response.