Escala apartments are so expensive that the owners can’t afford them.
According to the Escala apartment rental website, a monthly rent of $2,600 for an apartment with two bedrooms is a huge chunk of money.
That’s because, when Escala’s developers announced plans to build an apartment complex with more than 1,200 apartments, they told the site they were looking to make more money by selling them.
They also said the apartments would be located on public land, not private.
The developers told The Associated Press they’re planning to raise more money from the sale of the apartments by increasing the price to $3,400 per month, and by selling off some of the units that currently rent for $1,200 a month.
“It’s an expensive apartment, but it’s really not worth the expense,” Escala property owner and resident Laura Escala told the AP.
“I have a daughter who’s going to school at the same time and is in high school.
It’s not even a $3K monthly rent.”
The developer has made some improvements to the apartments.
They have a new laundry room, new kitchens and new living spaces, and have also installed a security system.
Escala said they’re also adding a third bedroom, a fourth bathroom, and a full-sized kitchenette.
But, as of this writing, the apartment complex is still listing for $2.9 million.
Escla’s apartment complex was originally built in 2007 and is located in the historic and working-class neighborhood of South Lake Union, which has become a hot spot for crime and violence in the past few years.
The Escala development is located near the intersection of the Chicago River and Lake Shore Drive, which is home to a high concentration of high-crime neighborhoods.
It is one of the few housing developments in the area that has received federal grant money.
A group of community leaders have been lobbying the city to move the development, calling for more housing and education options for residents.
In 2015, Chicago Mayor Rahm Emanuel signed a $250 million affordable housing package that included a new development and new housing.
But there’s no guarantee the city will move the complex.
According to The Associated Media, the city’s Department of Housing and Community Development, which oversees affordable housing programs, did not immediately respond to requests for comment.
The developer, which also owns other apartments in the city, told the Associated Press it was seeking public comment before making a decision.
Escalas apartment complex has been plagued with problems.
The Associated Public Housing Authority, which manages the property, reported that the complex was plagued by vandalism, theft, and arson between 2012 and 2016.
The property was closed to the public for several months, and it was eventually re-opened to tenants in May 2017.
The AP’s review of the site found that the apartments are “unusually small,” with some units only being available to single adults or children.
The AP also found that some apartments had no water, no security cameras, and no heat.
The owner of one of Escalas apartment buildings told the outlet that it was a problem because the apartments have to be maintained.
In a statement, the developer, the Chicago Board of Education, and the Department of Community Development all said they are reviewing the situation.
It is not clear how much money the developers are looking to raise from the sales of the properties.
Escala, a city that has been in the headlines for the past year, is now looking to expand.
In November, the developers announced a new, much larger development in the neighborhood, and they also said they would start building apartments for other public housing residents.
Follow Laura on Twitter: @laura__shannon