Monday, June 22nd, 2015
The weather is getting hot and the downtown apartment market is even hotter! Over 2400 rentals are coming to market this year and over 4,000 more downtown Chicago apartments are slated in 2016. What does all that mean for rent prices?
That is one question My FOX Chicago News asked us when they stopped by our showroom at 180 N Wacker Drive to discuss the downtown apartment market. Certainly, we are seeing an increase in apartment rent prices. Our Managing Broker, Ben Creamer, stated that rents are starting in the $1,500 range for studios, $1,800 for one beds, and $2,600 mark for two beds. Our Director of Leasing, Ericka Rios, pointed out that if you want a washer/dryer in unit, views, hardwood floors, you are looking at even a much higher rent price.
Fortunately, even with the increase in demand, we are still finding some rent specials in downtown Chicago for our clients. We recently had a client move into a South Loop one-bedroom apartment for $1,799 with brand new upgrades, washer/dryer in unit, and on the 40th floor. The week before that apartment was on the market for $2,200. Now, that’s a deal!
We are busier than ever ensuring our clients find the best luxury Chicago apartments in downtown. These are interesting times and you need a luxury leasing professional who can navigate all the rent specials and ensure that you are getting a great deal. We’d love to help take the stress out of finding you a downtown Chicago apartment today!
Downtown Apartment Company