MDA Apartments is a 24-storey residential tower at 63 E Lake Street in Chicago's Loop, offering studios, convertibles, one- and two-bedroom apartments and penthouses. Rents typically start around $1,570 to $1,875 a month. It is a conventional apartment building, not purpose-built student housing, and sits about 0.1 miles from Harold Washington College with the School of the Art Institute, Adler University, Roosevelt University, DePaul's Loop campus, Columbia College and The Chicago School all within walking distance.
The property has also been marketed as MDA City Apartments, City Club Apartments MDA, and more recently as 63 E Lake. Same building, same address, different branding across listing sites — which is worth knowing when your search results contradict each other.
That "conventional apartment building, not student housing" distinction drives almost everything below. It changes your lease, your liability, your furniture bill and your neighbours.
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The basics
| Detail | Information |
| Address | 63 E Lake Street, Chicago, IL 60601 |
| Neighbourhood | The Loop, Downtown Chicago |
| Building | 24 storeys, historic conversion |
| Unit types | Studio, convertible, 1-bed, 2-bed, penthouses |
| Indicative rent | From ~$1,570–$1,875/month |
| Lease type | Conventional residential, typically 12+ months |
| Resident mix | Students and working professionals |
Interior features described in listings include 10 to 12 foot ceilings, granite island kitchens, wood-style or bamboo flooring, in-unit washer and dryer, walk-in closets and expansive city views in select homes. Some units include sliding barn doors, built-in Murphy beds with shelving, Juliette balconies and gas fireplaces.
Building amenities include a hotel-style lobby, 24-hour concierge, fitness centre, an Entertainment Sky Club with bar and gaming area, rooftop terrace and Sky Park, an outdoor heated pool, outdoor theatre, event space with grilling stations, co-working and conference space, and an on-site restaurant.
Location: the strongest thing about it
The Loop location is genuinely exceptional for students, and it is the main reason to consider this building.
| Institution | Approximate distance |
| Harold Washington College | ~0.1 miles — about a 1 minute walk |
| School of the Art Institute of Chicago | Walking distance, ~4 min drive |
| Adler University | ~3 min drive, walkable |
| Roosevelt University | Walking distance |
| DePaul University Loop Campus | Walking distance |
| Columbia College Chicago | Walking distance |
| The Chicago School of Professional Psychology | Nearby |
| National Louis University | Nearby |
Why this matters more in Chicago than elsewhere. Chicago winters are the reason. Between December and March, a 25-minute walk to class is a genuinely different experience from a 5-minute one. Students who move to Chicago from warmer climates consistently underestimate this, and it affects attendance, mood and how much you actually use the city.
The building also sits on top of one of the densest transit nodes in the United States. The Loop 'L' station network, multiple CTA bus routes, and Metra terminals are all within a short walk, putting UIC, the University of Chicago, Northwestern's Chicago campus and Illinois Tech within reach without a car.
A car in the Loop is a liability, not an asset. Downtown Chicago parking runs $200–$400 a month, street parking is functionally nonexistent, and you will use it perhaps twice a month. If you are moving here, plan on not owning one.
The critical distinction: conventional apartment vs student housing
This is the section that should drive your decision, and it is the one most listings gloss over.
MDA Apartments is a conventional residential building. It leases apartments to whoever qualifies. Purpose-built student accommodation (PBSA) leases beds to students under a different model entirely.
| Detail | MDA Apartments (conventional) | Purpose-built student housing |
| Lease structure | Whole unit, typically joint and several | Per bed, individual liability |
| If a roommate leaves | You may be liable for their share | Not your problem |
| Furniture | You buy it | Usually included |
| Utilities | You set up and pay accounts | Often included or capped |
| Lease length | 12+ months, calendar-based | ~11–12 months, academic-calendar aligned |
| Summer | You pay through it | Often aligned to the academic year |
| Guarantor | Usually required | Usually required, sometimes with alternatives |
| Neighbours | Mixed ages and schedules | Students |
What this means in practice
You will need a guarantor or proof of income. Conventional Chicago buildings typically require gross annual income of 2.5 to 3 times the annual rent, or a US-based guarantor meeting a higher multiple. International students without US credit history and without a US guarantor frequently fail this screening. Some buildings accept a larger security deposit or a third-party guarantor service instead — ask before you apply and pay a fee.
Joint and several liability is a real risk. If you take a two-bedroom with a friend and they leave in November, the landlord can pursue you for the entire rent. This is the single biggest financial risk in conventional student renting and it is invisible until it happens.
You are furnishing an empty apartment. Budget $1,500–$3,000 for a studio or one-bedroom, more for two. You will sell most of it at a heavy loss when you leave, or pay to store it.
The lease will not match your academic year. A 12-month conventional lease starting in September runs through the following August. If you are on a one-year master's finishing in June, you are paying for two months you do not need, or finding a summer sublet in a building that may restrict subletting.
Your neighbours are not students. For some people this is the whole point — quiet, adult, professional. For others, particularly first-year undergraduates arriving alone in a new city, the absence of a built-in student community is genuinely isolating. Be honest with yourself about which you are.
Who MDA Apartments genuinely suits
Graduate and professional students. MBA, law, psychology, art and design students who want an adult residential environment, a real kitchen and no undergraduate noise. The Loop location puts internships and part-time work in the financial district and the museum campus within walking distance.
Students at Loop-campus institutions. Harold Washington College at 0.1 miles is unmatched. SAIC, Roosevelt, DePaul Loop, Columbia and Adler students all benefit.
Couples and students with partners. The one- and two-bedroom units work for people whose living situation does not fit a per-bed student model.
Students staying multiple years. The furniture investment amortises. A 12-month lease matching a calendar year stops being a problem.
Students who want to live in a city rather than on a campus. The Loop is downtown Chicago, with the theatre district, Millennium Park, the Riverwalk, the Art Institute and the lakefront at your door.
Who it does not suit
First-year undergraduates arriving alone from abroad. No built-in student community, no furniture, a guarantor requirement, and a lease that does not match your academic year. This is a lot to handle in your first month in a new country.
Anyone on a tight budget. Studios starting around $1,570 before utilities is well above per-bed student housing rates in Chicago.
Students on a nine-month programme. The 12-month lease mismatch is a straightforward waste of money.
Students who need someone else to handle the logistics. You will be setting up electricity, gas, internet, insurance and furniture yourself, in a new country, in your first weeks.
A realistic scenario
Wei is starting a one-year master's at a Loop-campus university in August. She has no US credit history, no US guarantor, and needs somewhere to live from late August through June.
Three problems stack up. First, she will likely fail conventional income screening without a US guarantor, so she needs to ask upfront about guarantor services or a larger deposit. Second, a 12-month lease from August runs to July, and her programme ends in June — that is two months of rent she does not need, at $1,570 or more. Third, she is furnishing an empty apartment on arrival, jet-lagged, in a city she does not know.
For Wei, purpose-built student housing near a Chicago campus is almost certainly the better call. Furnished, academic-year lease, no guarantor drama, other new international students in the building.
Marcus is a second-year MBA with a summer internship in the Loop and a US co-signer.
For him, MDA works. The 12-month lease covers his internship summer, when student housing might not. He wants a quiet building with adults. He is staying two years so the furniture cost amortises. He walks to class and to his internship.
The difference between Wei and Marcus is not budget. It is lease timing, guarantor access and whether they need a community built for them.
Chicago student housing alternatives
If the conventional model does not fit, Acolyte Living lists purpose-built and student-focused options across Chicago, including Tailor Lofts in the West Loop, The Letterman Chicago, Infinite Chicago, Ion Lincoln Park, Straits Row and VUE 53.
We have covered Tailor Lofts in detail separately if you want a direct comparison of what purpose-built student housing in Chicago includes.
Frequently asked questions
Where is MDA Apartments in Chicago?
MDA Apartments is at 63 E Lake Street, Chicago, IL 60601, in the Loop in downtown Chicago. It is roughly 0.1 miles from Harold Washington College and within walking distance of the School of the Art Institute, Roosevelt University, DePaul's Loop campus, Columbia College and Adler University.
How much is rent at MDA Apartments?
Listings indicate rents starting around $1,570 to $1,875 a month depending on unit type and lease term, covering studios, convertibles, one- and two-bedroom apartments and penthouses. Because the building is unfurnished and utilities are separate, budget roughly $1,750 to $2,150 a month all in for a studio.
Is MDA Apartments student housing?
No. It is a conventional residential building that houses both students and working professionals. That means whole-unit leases rather than per-bed leases, no included furniture, separate utility accounts and standard income or guarantor screening. Purpose-built student housing works differently on all of those points.
Is MDA Apartments furnished?
No. Units are unfurnished. Budget $1,500 to $3,000 to furnish a studio or one-bedroom, and expect to sell most of it at a loss when your lease ends. Some units include built-in features such as Murphy beds, but that is not the same as a furniture package.
Can international students rent at MDA Apartments?
Yes, but conventional Chicago buildings typically require income of 2.5 to 3 times the annual rent or a US-based guarantor, which many international students cannot provide. Ask about third-party guarantor services or an increased security deposit before paying a non-refundable application fee.
What universities are near MDA Apartments?
Harold Washington College is about 0.1 miles away. The School of the Art Institute of Chicago, Adler University, Roosevelt University, DePaul University's Loop campus, Columbia College Chicago, National Louis University and The Chicago School of Professional Psychology are all within walking distance or a short transit ride.
Do I need a car at MDA Apartments?
No, and you should actively avoid one. The Loop has the densest transit access in Chicago, with 'L' lines, CTA buses and Metra all within a short walk. Downtown parking costs $200 to $400 a month and street parking is effectively unavailable.
Why does MDA Apartments have different names on different sites?
The building has been marketed as MDA Apartments, MDA City Apartments, City Club Apartments MDA and 63 E Lake at various points. They all refer to 63 E Lake Street. Confirm current pricing and management directly, since aggregator listings are frequently years out of date.
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Making the decision
MDA Apartments offers a Loop address, a genuinely walkable commute to several Chicago institutions, and an adult residential environment in a building with strong amenities.
What it does not offer is the student housing model: no furniture, no per-bed leases, no academic-year alignment, and standard income screening that international students often struggle with.