New Chicago co-living building boasts flexible leases — with a catch
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A fully furnished unit on the 10th floor of Post Chicago. Photo: Alexa Mencia/Axios
Most young people earning a starting salary are priced out of Lincoln Park for their first apartment.
- But a new development at 853 W. Blackhawk St. is offering an affordable way into the neighborhood, with a couple of catches: The units are small and you probably won't know your roommates in advance.
Driving the news: The first tenants started moving into Post Chicago — a 431-bed building pegged as the first co-living community in Lincoln Park, and the city's largest — last month.
How it works: Post is targeting tenants such as students, corporate transferees and others looking for flexible furnished housing for at least six months.
- Those renting a furnished single room, with a shared bath, in a four-bedroom apartment will pay between $1,400 and $1,700 a month. That includes a living room, dining room and kitchen, plus shared building amenities.
- Unfurnished two-bedroom and studio units are also available. Studios range from $1,786 to $2,174, and it's $3,271 to $3,996 for a two-bed, two-bath unit.
The amenities: Some great views, in-unit washers and dryers, workout facilities, a deck with grills, couches and firepits, working areas with privacy booths and party rooms.
The intrigue: Building managers do their best to match tenants with compatible roommates but realize this won't always succeed. So they have contingencies.
- "We would start with conflict resolution and then move [tenants] to another unit if necessary," Jeff Berta, senior director of real estate development at Structured Development, tells Axios. "I mean, we do have more than 400 beds."
- Four friends could also apply to live in a Post Chicago apartment together.
Of note: To address tidiness in the apartment's common areas, building management sends a staffer to clean those rooms weekly. They also document any damage to the unit.
The bottom line: For budget renters with no furniture who like Lincoln Park and don't mind roommate roulette, Post Chicago could offer a great deal and a big adventure.
