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Finding a Summer Sublet in Chicago: Part Two

  • April 20, 2011

by Jacqueline Zenn

Last week, we wrote about a few different ways to find a summer sublet in Chicago. This week, we’ll explore two more avenues for finding a short term rental: university networks and corporate housing.

Students are one group that are likely to leave the city for the summer, and you can take advantage of their vacated pads by scouring the residential listings posted by local colleges and universities during the summer months.

Lakeview Studio for sublet
East Lakeview Furnished Studio for Sublet

Several local universities have websites where students can list their apartments or rooms for sublet. For instance, Loyola University’s page on ULoop offers a place where students can list their off-campus housing for sublet. Current listings include a furnished Lakeview studio with views of the lake that rents for $1,270 a month and a one-bedroom apartment in Hyde Park for $850 a month. The University of Chicago also has a marketplace where undergraduate and graduate students can list rentals; current listings include a $600 a month Hyde Park studio and a downtown studio near Michigan Avenue for $1,075 per month.

If your company is picking up the bill for your summer rental, Just Passing Through, Inc. offers furnished apartments in the Gold Coast for $1,350 to $1,800 per month. Dewitt Place in Streeterville also offers furnished rentals for up to 90 days, with rates starting at $63 per night. Local short term housing firm Manilow Suites offers furnished suites in a variety of downtown buildings, including the popular Presidential Towers complex just west of the Loop. Rates start at $2,495 monthly.

Presidential Towers unit
A Model Unit in the Presidential Towers

Mike Kozomora, an operations and leasing consultant at Chicago Signature Properties suggests that anyone looking for a summer sublet in Chicago needs to move quickly, noting that short term leases are fairly tough to come by.

“We work with buildings that we know have rental inventory pretty regularly and we also use the MLS to gain access to individual condominium listings put up by agents,” Kozomora said. “When searching for shorter term leases, I have come across only a handful of rental buildings that will take on lease terms less than six months.”

He also said that short term rentals can be more expensive than their long term counterparts, and that some buildings not only charge the full ‘market rent’, or rent without any concessions given, but they also tack on a short term lease premium.

“There are some buildings that will just add on the premium and give you whatever concessions the building is offering; however they are few and far between.”

So, whether you are looking for an inexpensive studio or high-end amenities in your summer sublet, it is time to start making housing decisions before all the good deals in Chicago are gone.

This article originally published at http://chicago.urbanturf.com/articles/article/finding_a_summer_sublet_in_chicago_part_two/3339

Lauren Mitrick

Newman Realty

773-480-5078

Serving:

Wrigleyville

Old Town

Gold Coast

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