With Chicago’s new condominium market somewhat sluggish to bounce back and the high-end apartment segment sizzling, the practice of renovating and/or renting-out existing condo units is becoming increasingly popular. Take for example this spacious three-bedroom, four-bathroom penthouse rental located in the 2008 tower at 550 N. St. Clair in Chicago’s Streeterville neighborhood.
Featuring high-end fixtures, 13 feet of headroom, and contemporary non-offensive furniture, the top-floor home offers plenty to like at a great location close to the Mag Mile and the lakefront. Though the property sports killer views from its tall windows and large outdoor balcony, the unit's raw concrete columns and ceilings may not necessarily appeal to every shopper. The Brininstool+Lynch-designed building offers 24-hour door staff, pool, sauna, fitness center, and an outdoor garden space.
At 3,200 square feet, the unit’s $10,000 monthly rent works out to roughly $3.13 per foot. While undoubtedly pricy, this penthouse still manages to undercut the per-foot price of typically smaller three-bedroom apartments offered in new buildings like the Loop’s Marquee at Block 37. The listing is currently offered by Related Realty broker Mack Alsaidi.
- Previous Streeterville coverage [Curbed Chicago]