Chestnut Park — Rental Market Data

Chestnut Park at 55 Centre Ave has two active listings as of August 31, 2026, spanning a price range of $2,400 to $3,300 per month with an average and median asking rent of $2,850. The two available suites average 813 square feet at a combined asking rate of $3.72 per square foot, split evenly between one one-bedroom and one two-bedroom unit. With only two listings out of the building's 133 suites, active inventory is minimal and skews toward a compact entry-level one-bedroom alongside a single larger two-bedroom option rather than a depth of multi-bedroom executive layouts.

Chestnut Park's active inventory is split evenly, with one one-bedroom and one two-bedroom each representing 50 percent of available units. The one-bedroom offers 550 square feet at $2,400 per month and $4.36 per square foot, while the two-bedroom provides 1,076 square feet at $3,300 per month and $3.07 per square foot. Both tiers are single listings, so renters in either bedroom category face a one-unit-only choice with no alternative options within the same layout.

Chestnut Park's two active listings span a $900 spread from a $2,400 entry rent to a $3,300 peak asking rent, a 37.5 percent range. The median asking rent sits at $2,850 per month, anchored by the 550-square-foot one-bedroom at $4.36 per square foot on the low end and the 1,076-square-foot two-bedroom at $3.07 per square foot on the high end. The entry-level suite commands a premium per-square-foot rate due to its compact footprint, while the peak suite delivers substantially more living area at a lower unit rate.

Chestnut Park's active den premium and associated square-footage delta cannot be quantified from the current two-unit sample, as no paired den versus non-den comparisons exist in the active inventory. Parking stall costs likewise cannot be reliably isolated; the available data reflects an anomalous outlier or insufficient paired sample, and no verified monthly parking fee can be quoted for either active listing. Renters should request a current parking add-on schedule directly from the leasing office before committing to a lease.

Chestnut Park's active asking rent of $2,850 per month and $3.72 per square foot both sit below the Downtown Core submarket benchmarks of $3,471 per month and $4.56 per square foot, placing the building 18.4 percent under the submarket asking rate on a per-square-foot basis. The nominal rent gap of roughly $621 per month is partly explained by suite sizing: Chestnut Park's 813-square-foot average active footprint is smaller than what the submarket asking rate implies, so the lower per-square-foot rate reflects both competitive pricing and compact unit dimensions. The building represents two out of 224 active listings in the Downtown Core submarket, a 0.9 percent share of total available inventory.

Chestnut Park's average realized lease rent of $2,738 per month exceeds the four-building comp benchmark of $2,556 per month by $182, positioning the subject above every active nearby competitor. One City Hall at 111 Elizabeth St (0.17 km, 31 closed leases) averages $2,459 per month at $4.42 per square foot across 569 square feet, meaning the subject commands $279 more per month despite offering 270 additional square feet. Residences at RCMI at 426 University Ave (0.17 km, 41 closed leases) averages $2,608 per month at $4.03 per square foot over 650 square feet, with the subject realizing $130 higher monthly rent while providing 189 more square feet. Wynford Condominiums at 1715 Edgecliff Golfway E (0.14 km, 1 closed lease) averages $2,600 per month at $2.74 per square foot across 950 square feet, and the subject trades $138 higher per month on a footprint 111 square feet smaller. West One – CityPlace (0.14 km) recorded zero closed leases over the trailing 180 days and therefore carries no realized rent benchmark for comparison.

Chestnut Park leases at $3.27 per square foot across an average 839-square-foot suite, a rate that sits below the comp average of $3.73 per square foot and well under the Downtown Core submarket leased benchmark of $4.48 per square foot. Against One City Hall, the subject trades at a $1.15 per square foot (26.0%) discount while providing 270 more interior square feet, so the higher nominal rent is entirely a function of the larger footprint rather than a per-foot premium. Residences at RCMI presents the same dynamic: the subject offers a $0.76 per square foot (18.9%) discount and 189 additional square feet, again making the $130 monthly rent differential a space-volume effect. Wynford Condominiums inverts the relationship—the subject commands a $0.53 per square foot (19.3%) premium over that 1974-era building while delivering 111 fewer square feet, reflecting the older comp's lower per-foot valuation offset by its larger suite. In every active comparison, the rent spread is driven by interior square footage rather than a shift in per-foot asset pricing.

Chestnut Park provides a minimal common-facility package consisting of concierge and security service plus adjacency to the Textile Museum of Canada, a cultural amenity no nearby competitor replicates. One City Hall (0.17 km) fields an indoor pool, hot tub, gym, sauna, rooftop terrace, BBQ area, business centre, and shared car services; Residences at RCMI (0.17 km) offers a gym, party lounge, meeting room, games room, business centre, and car-share facility; and even the zero-volume West One – CityPlace (0.14 km) lists an indoor pool, hot tub, sauna, gym, rooftop terrace, and garden courtyard. The subject's absence of aquatic, fitness, and social-recreation facilities means it operates as a no-frills residential building that appeals to cost-conscious renters who prioritize a larger 839-square-foot interior footprint and a lower per-square-foot rate over amenity-rich lifestyle programming. The primary tenant demographic best served by this package is the budget-sensitive professional or small household that values square footage, museum-adjacent cultural access, and a straightforward low-maintenance living arrangement over gym-and-pool resort-style amenities.