According to an article by Crain’s Chicago, downtown landlords should enjoy another good year as rents and occupancy are at record highs.  The boom is expected to subside in early 2008 when nearly 1,700 new apartment units are expected to be delivered. Beyond this there are about 3,000 units in the planning stages with delivery [...]
Entries Tagged as 'Rentals'
Good Year to be a Landlord
November 15th, 2007 · No Comments
Chicago Rental Rules and Regulations
November 15th, 2007 · 1 Comment
From time to time I handle high-end Chicago rentals for clients, either listing or searching for the perfect apartment. Much like the world of residential real estate sales where buyers and sellers are protected by certain rules and regulations, the rental world runs in a parallel universe where landlords and tenants (lessor and lessee) are [...]
Apartment Vacancies Down, Rents Up
November 15th, 2007 · No Comments
In Chicago, the apartment vacancy rate has dropped from 12 percent two years ago to about 5 percent today. Meanwhile, rents have increased on pace with national trends. According to Appraisal Research Counselors, this spring’s leases nationwide are showing the biggest rent hikes in five years. “The rental market has changed over the last year [...]
