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More to the Landlord: Rents Rise in 80 Percent of Chicago Neighborhoods

  • October 19, 2011

by Erin Calandriello

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If you currently live in a high rent district in Chicago, chances are that monthly payments won’t be leveling off anytime soon. RentJuice reported today that rents increased in 80 percent of the city’s highest rent neighborhoods during the third quarter of 2011.

Lincoln Square saw the biggest increase (5.8 percent), with rents jumping from $954/month in June to $1,010 in September. The Gold Coast was second with a 5.7 percent hike, taking its monthly average to $1,843. Rents increased in almost all of Chicago’s priciest neighborhoods, except for the West Loop, which saw monthly rates drop from $1,991 in June to $1,959 in September.

The most expensive neighborhoods in which to rent during the third quarter (on a price per square foot basis) were:

  • Gold Coast at $2.71
  • Streeterville at $2.34
  • River West and Loop at $2.33
  • River North at $2.29

As UrbanTurf reported yesterday, there may be slim pickings as far as buying a home goes right now, but with rents rising and home prices falling, a home purchase may be quite sensible…assuming you can find something to your liking.

This article originally published at http://chicago.urbanturf.com/articles/article/chicagos_priciest_neighborhoods_see_rent_increases/4385

Ted Guarnero

Baird & Warner

312-810-6693

Serving:

Gold Coast

Printers Row & Dearborn Park

Streeterville

Choose an edition: Wash DC | Chicago