chicago-condos & Chicago Real Estate pcherry on 26 Jan 2011 10:47 am

Few Studio Apartments Left For Rent At Aqua

January 26, 2011 - It hasn’t been too long ago that we told you about Chicago real estate developer Magellan finally finding a buyer for the 474 apartments at Aqua. As evidenced by all of the recent news about rental towers going up and developers landing financing for them, Crain’s is reporting that J.P. Morgan is financing the apartment purchase with a $105 million laon from New York Life Insurance Company.

J.P. Morgan will have a majority interest in the apartments, retail space and parking garage, nut Magellan will keep a small piece of the pie. The entire deal went for $182 million, and this new loan is for 7 years with an interest rate of less than 4.3%, according to the article.

There are only a few apartments left for rent at Aqua. Some of the studio units available from Magellan are listed below.

Floorplan Studio 05
0 Bedroom /1 Bath
Unit #3905 / 571 Sq Ft / Price $1,581 / Available 03/07/2011

Floorplan Studio 06
0 Bedroom /1 Bath
Unit # 2106 / 584 Sq Ft / Price $1,574 / Available Now
Unit #5106 / 584 Sq Ft / Price $1,690 / Available Now

You can find out more information about other Chicago apartments for rent by following the link.

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