ELMHURST, IL – One of the big apartment complexes in downtown Elmhurst now has 22 units available, down from 26 a month ago.
Elmhurst 255, 255 N. Addison Ave., has a total of 192 units.
According to its website Monday, apartment vacancies consisted of five one-bedrooms, 16 two-bedrooms and one three-bedroom. The monthly rent for those units ranges from $2,150 to $4,399.
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The vacancy rate works out to 11.5 percent. That’s higher than the Chicago metropolitan area’s residential rental vacancy rate of 5.6 percent in the fourth quarter of last year, according to the U.S. Census Bureau.
To attract renters, Elmhurst 255 is offering up to 1½ months of free rent.
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Elmhurst 255 did not return Patch’s message for comment last week.
Elmhurst 255’s competition is expected to increase soon.
Another big apartment complex, Vyne on Haven, 115 W. First St., is slated to open this spring. The six-story structure is expected to consist of 200 units.
In January 2022, the City Council unanimously approved the Vyone on Haven apartment building. A few months later, ground was broken.
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Over the years, the city has been encouraging downtown “transit-oriented” development for train commuters. Officials say downtown residents help nearby shops survive at a time when online shopping is becoming increasingly popular.
Opponents contend the big housing complexes are changing the character of the community and worsening downtown traffic.
Elmhurst 255 links itself to the transit-oriented concept with its slogan, “Live near the tracks, not on the tracks.”
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