The Ivy is a luxury apartment complex located in Chicago's Lincoln Park neighborhood. With its upscale amenities and central location near the lakefront and various restaurants and attractions, The Ivy is an attractive option for many renters looking to live in the city. However, like any rental property, The Ivy also comes with some potential drawbacks to consider. Let's take a look at some of the key pros and cons of living at The Ivy to help prospective residents determine if it's the right fit for their needs and lifestyle.
Pro: Prime Lincoln Park Location
One of the biggest pros of living at The Ivy is its fantastic location in Chicago's Lincoln Park neighborhood. Lincoln Park is situated on the city's north side near Lake Michigan and just west of downtown. It's considered one of the most desirable areas to live in Chicago due to its charming residential streets, close proximity to nightlife and entertainment, parks and green spaces, and easy access to public transit lines.
The Ivy is well-located within Lincoln Park, just steps from Lincoln Park Zoo, several playgrounds, and walking paths along the lakefront. It's also within walking distance to the downtown Red Line 'L' stop for a quick commute into the Loop. Nearby attractions include coffee shops, boutiques, and high-end restaurants along Halsted Street. Residents will have no shortage of dining and nightlife options right at their doorstep in this vibrant neighborhood.
Con: High Rents
As with any luxury high-rise community in a premier Chicago location, rents at The Ivy do not come cheap. Studio apartments start at over $2,000 per month, while one-bedrooms range from $2,500 to $3,000 monthly and up from there depending on layout and floor plan. Two-bedroom units can easily top $4,000 or more each month.
This luxury price tag puts living at The Ivy out of reach for many renters, especially those new to the city just starting their careers. Monthly rents on par with a mortgage payment require higher salaries to afford comfortably. Renters need to budget carefully to ensure The Ivy fits within their long-term financial plans. This pro of a prime location comes at the notable cost of higher rents.
Pro: Upscale Amenities
The Ivy aims to offer an amenity-rich apartment experience usually found in luxury high-rises in larger cities like New York or Los Angeles. Some of the top-tier amenities at The Ivy that help justify the higher rents include:
- 24-hour concierge service and attended lobby
- Fitness center with cardio and weight machines, and yoga/Pilates studio
- Indoor lap pool and sundeck
- Outdoor courtyard with grilling stations and fire pit
- Party/entertainment room with catering kitchen
- Bike storage and repair room
- Parking garage with assigned spots and electric vehicle charging stations
- Dog run and spa
- Business center with computers and printing
- Maid and linen service available
Having high-end amenities like an indoor pool, fitness center, and dog facilities all on-site makes The Ivy feel more like a resort than an apartment community. This level of service and luxury is ideal for busy professionals who want resort-style amenities without leaving the building.
Con: Noisy Environment
Living in the heart of Lincoln Park comes with the expected bustling urban environment. Being situated on busy Halsted Street means street noise is often noticeable from open windows, especially on weekends when bars and restaurants are in full swing.
Internal noise can also be problematic. Hardwood flooring vibrates sound and footsteps to lower units. The concrete construction doesn't provide as much sound insulation as many newer high-rises. Residents often complain of hearing neighbors' televisions, music, and even conversations above or below them. Additional noise comes from crowds in common areas like elevators and the exterior courtyard.
Light sleepers or those seeking a quiet refuge may find The Ivy's environment too noisy at times. Residents need to embrace or get used to the lively energy of an urban setting. The central location near nightlife comes at the cost of less peace and quiet inside the building.
Pro: Excellent Management
The Ivy is professionally managed by Douglas Emmett, one of the largest apartment owners in the West. Their level of customer service shows through consistently positive resident reviews and a very low turnover rate for management staff.
Residents praise the maintenance team's quick response time to any work orders. The landscaping, cleaning crews and front desk workers also receive high marks for friendliness and efficiency. Rent payments can be made via an easy online portal.
Having large, experienced managers brings a level of organization, consistency, and white-glove treatment usually seen in luxury condominium buildings, not many rental properties. Problems are handled smoothly with minimum hassle for residents. This management quality gives peace of mind and residents can feel secure living in a well-run community.
Con: Limited Space
Overall unit sizes at The Ivy are average to slightly below market rate for luxury high-rise communities, especially compared to newer large-scale developments. Standard one-bedrooms measure between 700-800 square feet while two-bedrooms are 1,000-1,200 square feet. Three-bedroom units max out around 1,500 square feet.
Storage space is also limited. Bedrooms tend to feel cramped with full-size beds. There may only be one central closet. Kitchens are galley layouts without much counter space. Combined with hardwood floors, furniture placement options feel constrained.
Families with more than two kids or those wanting separate home offices may outgrow the spaces quicker than anticipated. The smaller units are a trade-off for the prime location. Existing furniture from larger homes may not fit as seamlessly. Measurement is advised during any apartment showing.
In conclusion, The Ivy provides an enjoyable luxury rental experience with unmatched location and amenities. However, the high prices, noisy environment, and space constraints require potential renters to carefully weigh if the property suits their long-term needs and financial situation. Its pros of a resort-style community and walkable neighborhood are tempered by real cons to honestly consider. An informed decision can be made by fully understanding both sides of living in one of Chicago's most prestigious apartment towers.
