Downtown Chicago Condo Rentals
Hello to all my blog readers out there.
I wanted to take a quick look at rental activity
in the West Loop.
This analysis is based on properties that were rented
from JAN 1st 2013 through MAR 20 2013 in the West Loop
Chicago neighborhood.
This year we had 93 units rented through March 20th.
Last year we had 108 units rented through March 20th.
So the total number of units rented has decreased by 16%.
However, the median rental price this year was $2,125.
Last year, the median rental price was $2,000.
This represents a rental increase of 6.25%.
Here is the median rental price breakdown by unit size:
Studio = $1,300
1 bedroom = $1,752
2 bedroom = $2,558
3+ bedroom = $3,643
For this analysis, I considered the West Loop to run
from 400 West to 1600 West and 700 South to 500 North.
If you are thinking about renting a condo in the West Loop
neighborhood, this analysis should give you a good idea
of current market values.
If you need assistance with renting a condo, please send
an e-mail to mark@markkillion.com
I help owners and tenants!
Until the next time,
Mark Killion
RE/MAX Premier Properties
1205 N Dearborn
Chicago, IL 60610
Visit me online: www.773property.com
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