The long-vacant Lexington Park Condos, at Cermak and Indiana, transitioned to rental (on the books, anyway) about a year ago. But before it could open to occupancy, owner ST Residential needed a management partner who could refurbish the units, repair water damage to upper floor units, and more-or-less run the show. That partner is Magellan Development Group, according to Tuesday's press release. With a new website, new leasing center, and new identity to boot, the rebranded LEX is scheduled for April occupancy.
329 units are divided between a nondescript 35-story tower and a connected 7-story loft structure. They're of modest size—nothing larger than 1550-square-feet showed up on the rent schedule—and available tower units range from around $1,250 for a small one-bed to just over $3,000 for the largest two-beds on the highest floors. The crowning amenity has to be the outdoor pool and hot tub. Plenty more spoils exist, but nothing beyond the expected. Vacant since the day it was born, in 2008, this is a major event for the South Loop and rental market as a whole. Interested? Check out all the pretty model units here.
·Lexington Park (LEX) Coverage [Curbed Chicago]
·Official Site: The LEX