Over the past 3-6 months, Chicago has experienced a modest rise in rent prices, primarily driven by strong and sustained demand for rental housing. In Q1, many sought-after buildings are operating at high occupancy levels, resulting in a lack of rental price reductions compared to previous years. Rental prices are expected to remain steady or see slight increases. Concessions offered by buildings are currently focused on covering administrative and application fees rather than providing rent-based incentives. As of now, the median rent in the Loop neighborhood stands at approximately $2,529 per month.

Apartment Options

Below are some recent listing examples.

Halsted Flats

• Studio/1 bath
• Sq Ft: 535
• Rent: $2,157
• Neighborhood: West Loop

Shoreham & Tides

• 1 br/1 ba
• Sq Ft: 690
• Rent: $2,354
• Neighborhood: Lakeshore East

Wolf Point East

• 2 br/2 ba
• Sq Ft: 1,128
• Rent: $3,907
• Neighborhood: West Loop Gate

K2

• 3 br/2 ba
• Sq Ft: 1,515
• Rent: $5,443
• Neighborhood: Streeterville

(Data sourced from Apartments.com)

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