Chicago Rental Off Michigan Avenue for $1,235

Michigan Avenue One-Bedroom for $1,235It's rare to find a vintage rental in this locale off Michigan Avenue, an area that's heavily saturated with carbon copy high-rises. And unearthing an original in this price range could be even tougher.

Built in 1882, this Victorian goth-style complex is known as Hotel St. Benedict Flats, a landmark building named after the church that existed on the land before the Great Chicago Fire of 1871. The red brick structure was originally erected as a luxury apartment building, but it was designed to look like a series of adjoining townhouses to ease the uncertainty about such a novel residential concept. Over a hundred-and-some years later, the idea -- as well as the location -- have endured the test of time.

This one-bedroom, one-bathroom Chicago Avenue apartment is located in the center of downtown, only two blocks from Michigan Avenue (and the city's famous water tower, the only public building to survive the Great Fire's burn zone). It's right around the corner from Loyola University of Chicago, convenient to the downtown campus for Northwestern University, and about four to five blocks from Lake Michigan.

However, the neighborhood doesn't exactly have a name. This subsection of downtown, five blocks south of Gold Coast proper, is sometimes referred to as the Magnificent Mile-area because of its proximity to Chicago's mile-long shopping mecca.

Replicating the building's traditional exterior, the approximately 775-square-foot rental offers hardwood floors and fireplaces. The four-story walkup has laundry in the building, a 24-hour maintenance system, a rooftop terrace and in-house java -- there's a Starbucks outpost on the ground floor. If you have a pet, then it's worth asking about as dogs are permitted in some units.

Though this place scores high on location and charm, one caveat may be the condition of the apartment, since the market has been (rightfully) jaded by the number of new developments out there. (Are granite counters and stainless steel appliances a must for Chicago renters these days?)

The bathrooms and kitchens are advertised as updated, but if you you are reading this far, sounds like you just need to go check out this sweet rental and see if it's going to pass your test.

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