Developers are not bashful about their love for the hip Logan Square neighborhood and the prospects of what delivering dozens of new apartments to the area can mean for their pockets, however the latest batch of major rental developments seem to have opened under the radar. Perhaps deterred by the uproar over the cost of rents at the new developments in Logan Square, the latest project for the neighborhood, dubbed Mode Logan Square, has not made a grand gesture or announcement regarding its status. However, listings on the apartment search site Domu indicate that the 78-unit development is indeed open and looking to ink deals with new tenants.
Not surprisingly, the rent rates at the new development aren’t cheap. According to the listing on Domu, a studio apartment starts at $1,575 while convertibles will cost $1,795. Those looking for a two-bedroom unit can expect to pay at least $2,350 per month.
Of course, the monthly rent pays for a brand new apartment with finishes and amenities more typical of developments found throughout the downtown area. The building features a fitness center, a lounge with multiple TVs, and a spacious outdoor courtyard space. However, with rental rates starting near $1,600 per month, the cost to live in the new development is awfully close to what newer downtown high-rises are asking.
The development is not alone in opening without much of a peep. The new MiCA towers at Milwaukee and California (hence the name) have begun to fill up with tenants but never really seemed to make a big show of its grand opening last autumn.
Pricey new rental developments for Logan Square have not always received warm welcomes from residents as fears about the rising cost of living and runaway gentrification have sparked numerous protests and calls to action since the recent class of new developments were initially proposed.
However, the new developments are here to stay and developers seem to be lining up renters for the new projects along Milwaukee Avenue. And while the Logan Square area has gotten hundreds of new apartment units in the last year, hundreds more are still on the way.