Furnished New Chicago Apartments Available in the South Loop

December 23, 2012

chicago new apartments

According to research by real estate brokerage firm Marcus & Millichap, the average Chicago rent is $1,202. While Illinois has been doing more to help struggling homeowners via mortgage counseling and down payment assistance programs, it’s also nice to know there are options for Chicago residents who are struggling to pay rent.

The Studios, located in the South Loop, are now renting furnished new Chicago apartments. The six-story, 170-unit building is located at 1801 S. Wabash Ave., which provides easy access to all of the Loop’s amenities.

Rent starts at $400 per month, and the fully-furnished apartments also include cooking facilities, storage space and private baths. In order to qualify for an apartment, prospective renters must show employment history and earn between $16,000 and $26,000 a year. While The Studios were initially created to help low-income wage earners, the elderly and students on financial assistance, Chicago residents of all ages are eligible to apply for an apartment.

The Studios were founded by the Central City Housing Ventures, whose mission is to expand the availability of affordable housing in the city. Short-term housing tends to be quite costly and is not always a realistic option for residents between jobs or who have just lost their jobs, but the Studios provide a break from expensive furnished housing.

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