Rogers Park's newest rental property, the Morgan at Loyola Station,is now open and leasing, and I took a tour last night. The building is located just south of the Loyola el station, at 1209 W. Arthur, Sheridan & Arthur.It's an attractive and appropriate building of moderate height- 8 stories, sheathed in red brick, with large balconies for all units, and large, attractive windows. This is a full-amenity building, with a glossy lobby, a parking garage across the street, recreational facilities, a 2nd-story roof deck in back with a fire pit and a fountain, and washers and driers in all units.
The rooms are relatively large, and the extremely large windows make these apartments seem larger. The balconies are large enough to put a sofa on, as was demonstrated by the rattan sofa and chairs on the balcony of one of the display units. A great feature of this building is that the back apartments have a reasonably attractive view as well as the front, because they overlook the roof deck.
Interestingly, I was quoted rents of approximately $1100-1200 for a convertible one-bedroom, to $1800-1900 for a 2-bed 2-bath, and the large one bed I was shown was offered at $1271 plus $75 for the heat and air conditioning. These were lower rents than I remember hearing, and sure enough,when I got the promotional brochure home, the rents quoted therein were substantially higher, ranging from $1337 for the smallest units to over $2700 for the largest. Perhaps the realization that the Edgewater-Rogers Park area will not support these kinds of rents is sinking in, or they are trying to get the building rented quickly as possible.
The building is a fine addition to the neighborhood and improves the appearance and tone of this part of Sheridan Road substantially. The street feels cozier and livelier thanks to the addition of another "streetwall". Let's hope this building succeeds and that more attractive multiuse buildings like it go up close to this corner. The Devon/Sheridan area has so much going for it- proximity to a variety of retail, to transit, and to the lake, and looks to be developing into a really lively and interesting neighborhood.
5 comments:
What's up with the parking meters in Chicago? My wife was up there last week for a conference, and she said that's all residents were talking about.
No they rent these apartments with fool you rates! It's less when you sign they then put in the lease the market rate which is much higher then you sign for then when your lease comes up for renewal they increase your rent based on the market rent so your 1100 dollar rent becomes your 1400 or 1500 per month rent plus the gas charge and the fact you cant park on the street because the building was cut out of the permit 56 leaving you to park in the over priced garage for another $120 a month. Last time I checked this was east rogers park not the goldcost, this building will forever have apartments for rent if they keep running it the way they do!
So THAT'S their angle. Figures.
No wonder the place is still half vacant.
My only beef with the place is that, most likely, TIF money from the Loyala/Sheridan TIF likely made it possible, for why else would anyone build such a building in a neighborhood where market rents are a cut lower than even the "discount" rents?
Looks to me like it could easily end up like the Granada across the street, which failed financially and ended up as offices and dorms for Loyola U.
That would be a shame. The Morgan really is a nice building. It has really superior soundproofing and attractive apartments.
Most of all, I hope we get something for our tax money other than another distressed building for Loyola to scarf up. I sincerely hope it wasn't set up with just that idea in mind.
I will be working for several weeks in Loyola and I am looking for some nice place to stay there and I think I will take a tour for Rogers Park's The Morgan!
I have lived in the Morgan at Loyola Station and HATE IT! And I am not surprised either that the building is half empty. I would call this place more of a dorm than an apartment building. They over regulate everything you do. The door staff is very rude and unhelpful. The heat is included but NEVER works. Residents are noisy and obnoxious at all times of the night yet nothing is done about that. However, if you complain about anything (aka the incredibly rude door lady) they will be sure to make your stay at this building miserable - like $500 fines for things I DID NOT DO and THEY CANNOT PROVE. This place is way too expensive for the service you get here - I'm talking $1500/month for a studio. I would NOT recommend living here. Go two blocks down to Granville and there is a beautiful new apartment building with great staff and amenities. I WOULD NOT RECOMMEND THE MORGAN! TERRIBLE STAFF AND TERRIBLE MANAGEMENT! I WOULD GIVE IT ZERO STARS IF I COULD!
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