There's a reason why Concept2's are used by gyms, for training by Olympic rowers, and also for indoor rowing competitions. They're indestructible. I've had one for about 15 years and all I've done is oil the chain and clean the rail. Every treadmill I've had gave up the ghost after a year or two of regular use.
The quality of workout you get with a rower is fantastic. It's great cardio and works a lot more muscle groups than a treadmill. Doing HIIT workouts on a rower is highly effective.
Two caveats:
1. It is possible to hurt yourself if you row with poor form. Take the time to learn how to row properly.
2. When you start, you will get blisters. Then you will develop calluses. If you don't want calluses on your hands, stick to running.
If space is an issue, there are treadmills with decks that fold up.
I love mine. Granted, I love rowing too though.