Another failed South Loop condo development — this time it's Lexington Park, at Cermak and Michigan — is going rental, Crain's reports. According to the article, the building's current owner, ST Residential, is building a new sales center and finishing out the fitness center and other common areas. The glassy, 35-story tower has been vacant since construction wrapped up in 2008. An anonymous spokesman for ST confirms to Crain's that a 2009 flood that we'd heard rumors of damaged units in the upper floors. ST will begin listing rental apartments "within the next three months," according to the article. Prices haven't been set yet.
· South Loop condo tower converting to apartments [Crain's]
· Complete Curbed coverage of Lexington Park [Curbed Chicago]