Does anyone know or have a breakdown of the current rental rates per sqft for the various apartment buildings downtown?  I'm curious how close we are getting to hitting the magical $2.25-$2.50 per sqft to justify new construction.  I know the average rent for the 9 will be about $2.00 but they are also going to have higher overhead to cover.

 

 

Based on what I'm paying, it's somewhere around $1.15/sqft in the Hanna building.

 

I wonder if maybe there might be any relevant data in the quarterly DCA reports?

They'll print anything in those reports.

speaking of which, I have their '13 annual report in front of me  :wave:

 

average rate per square foot for apartments.

 

2012:

Q1: 1.08

Q2: 1.10

Q3: 1.14

Q4: 1.14

 

2013:

Q1: 1.15

Q2: 1.16

Q3: 1.19

Q4: 1.20

 

From the same report, Q1 2012 started with 4171 apartment units, Q4 2013 had 5197..

 

I'd rather see those averages without the market rate although I'm doubting they would have an effect on it...

I wonder what the exact amount of those are market rate... As far as I know, the only one that I'm sure isn't is the SE corner of 13th and Superior Bohn Tower, 264 units [all 1BR]; there may be one or two more.

 

And I'm not sure if the units north of the shoreway are included in this talley.

Lakeview tower has 211 units [all 1BR];  and Lakeview terrace... the property surround lakeview tower has units with mult. bedrooms, so it's 1056 bedrooms and 506 units.

 

 

 

^ Don't forget Winton Manor on 1012 Prospect Ave - does anyone know how many units that one is?

^^I would be surprised if the average rent/sf numbers in the DCA report included any of the subsidized/affordable housing, with the possible exception of the affordable units in Bridgeview National Terminal (I think that's the one that's mixed income LIHTC- thanks Htsguy for the correction). Unlike the census population counts, I'd guess the rent numbers come from a landlord survey, and and that DCA wants to paint as rosy a picture as possible.

^I think you mean National Terminus (spelling) not Bridgeview.

I manually pulled data last night by looking at various apartments and taking the average size and rental cost.  I actually came up with $1.20.  I'll post it when I'm home this weekend.  Lots of good info, I love this forum!

How do these numbers look?  Does anyone live at these places and can provide their apartment size and rent for confirmation?  All the info I grabbed was for one bedroom units.  I'm using this for a school project.

 

Now that I'm thinking about it, it would be cool if I added in the number of units.  I'm not sure where I would find that data though.

 

How do these numbers look?  Does anyone live at these places and can provide their apartment size and rent for confirmation?  All the info I grabbed was for one bedroom units.  I'm using this for a school project.

 

Now that I'm thinking about it, it would be cool if I added in the number of units.  I'm not sure where I would find that data though.

 

 

My unit in the Hanna building is about 1400 sqft, which I believe is the max size. Smallest units are 525 sqft. I pay $1550/mo but I think the base rent for some units are as high as $1700

 

Edit: Sorry, I just realized you only listed one bedroom info. Carry on!

How do these numbers look?  Does anyone live at these places and can provide their apartment size and rent for confirmation?  All the info I grabbed was for one bedroom units.  I'm using this for a school project.

 

Now that I'm thinking about it, it would be cool if I added in the number of units.  I'm not sure where I would find that data though.

 

 

Nice homework JG! ... I'm shocked a place like Reserve Sq. is so relatively cheap.  Even though it's 42 years old, it has been rehabbed and I still consider it a luxury building with a ton of on-site amenities and a great location.  Crittenden is also a steal with a top rate of $780 -- I don't know about their amenities other than their highly-visible fitness center, but I do know Crittenden sits in a core "hot" area 1/2 block from both the river (and 1 block from spanking new/expanding FEB) and the WHD...

 

At E. 55 & the Shoreway, I probably wouldn't included Quay 55 as a "downtown" property though.

How do these numbers look?  Does anyone live at these places and can provide their apartment size and rent for confirmation?  All the info I grabbed was for one bedroom units.  I'm using this for a school project.

 

Now that I'm thinking about it, it would be cool if I added in the number of units.  I'm not sure where I would find that data though.

 

 

I live in crittenden and that is accurate. Thanks for putting this together. It's interesting to see.

Nice work, there's a few more to add; there's probably a couple other ones as well:

 

water street apts on west 9th;

http://www.waterstreetapts.com/

 

WT grant:

http://www.wtgrantapartments.com/