Developers have been flooding Chicago’s downtown and some of the city’s trendier neighborhoods with new rental apartments over the last few years and thousands more are expected to be delivered just this year alone. And while the new 19-story residential tower at 2950 N. Sheridan isn’t breaking any records for height or the number of units it’s delivering this year, it is shaping up to be one of the priciest new rental towers of this development cycle.
The project’s developer, Wirtz Realty Corporation, is ready to start signing leases with new tenants and have just started to publish rental ads marketing the units. According to brand new listings on Craigslist and Apartments.com, rent prices start at nearly $3,000 for a convertible apartment in the building. Looking for a two-bedroom apartment? Be prepared to shell out anywhere between $4,000 to $5,800 per month. The building also features a number of three-bedroom, two and a half bathroom units, but these are starting at $5,250 and go all the way up to a whopping $7,000 per month.
While the prices may induce sticker shock to many, the units in the Booth Hansen-designed tower appear to be larger than apartments in comparable buildings. And not to be outdone, there is, of course, a plethora of building amenities like a landscaped roof deck and a fitness center for renters. There are even some more unusual features like a car wash bay and electric car charging stations.
The new listings indicate that the units are available on April 1. With many new buildings, particularly the nearby Lakeview 3200, offering concessions like one or two months of free rent, it’ll certainly be interesting to see what kind of offers—if any—2950 N. Sheridan may make available to new renters.
- 2950 N. Sheridan [official website]
- 2950 North Sheridan [Apartments.com]
- Long Stalled Sheridan Road Tower Returns With a New Design [Curbed Chicago]