200 Squared To Become Temporary Corporate Housing

An interesting bit of news from the real estate watchers over at Crain's: 200 Squared, the just-completed apartment tower at Lake and Wells with a thing for Smart Cars, has been leased, in its entirety, to an LA-based corporate housing firm. As reporter Alby Gallun notes, it's kind of a funny move for developer Midwest Property Group to make as rents and occupancy are climbing, in the midst of what appears to be a mini rental apartment boom. One question that still needs to be answered: What'll happen to the 86 renters who have already moved into the building? Will they be — *gulp* — thrown out on the street?
· New Loop apartment tower leased to corporate housing firm [Crain's]
· Complete Curbed coverage of 200 Squared [Curbed Chicago]