The luxury deal site Gilt City Chicago has outgrown its training diapers, and beginning next week will enter the world of housing. Word today from Crain's is that the endeavor will launch with at least one big rental deal. Yes, it has something to do with the building above. The Mondial at 900 W Huron, one of the late-boom development tragedies, isn't experiencing the same difficulties renting as it did selling. A quick listing search uncovered only eight vacancies in the 141-unit building. Only 17 of the original condos sold, leaving 124-units for rent after their acquisition from developer Jack Berger. So, what at first has the whiff of desperation, appears to be a marketing flourish... a final thrust to get the last handful of 2-beds rented while picking up some publicity.
Now the details: the first three months of a 12-month lease for the five 2/2 units involved in the promo will go for $2,600. At least one of these units is a "luxury" 2-bed and will rent a bit higher ($2,925). The usual rent is $2,486 to $3,088 per month, which means you'll be saving roughly $5K over the first three months. One 4-bed penthouse unit will be offered for $7,500 for the same three-month span (this normally rents for $7,050/mo). It's an adventure in marketing to be sure, without the high stakes.
·Discounted workouts, dinners.... and apartments? [Crain's]
·Official Rental Site: The Mondial Chicago
·Mondial Coverage [Curbed Chicago]