There is nothing "down-market" about this proposal or their starting price to rent a studio. In fact, the $4k starting price for a 2-bedroom is above the norm in this area. I predict that this is the beginning of Chicago's cost of living rising and that people will be priced out of downtown in a few years. Many people are moving here from more expensive cities (NY and SF) and finding it cheap - the landlords are catching on and raising rents in certain areas. Also, another luxury high-rise is going in a block north at 350 w Hubbard so this is not setting a trend.