South Shore Chicago – Rent Price Trend

This analysis is based on data from the MLS.
2016 was another strong year for Chicago rentals.
I analyzed over 18,000 rental transactions!
The report is shown below.

This report shows average rent prices by neighborhood and bedroom count.
The number in parentheses shows the count of units for that cell.
So if you see “$1000 (22)”, it means the average rent was $1,000 and 22 units were rented.

This data is quite interesting.
The average 3 bedroom in the Loop neighborhood is $4,669.
While the average 2 bedroom in the Loop is $2,735.
So if you give up 1 bedroom, you can save almost 2 grand per month.
Another thing to take note of: Loop rents are sky high!

Hopefully you find this information useful.
If you have any questions about real estate, please let me know!

Until the next time,

Mark Killion
Kale Realty
2447 N. Ashland
Chicago, IL 60614

Office: 312-939-5253
Cell: 773-354-6693

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

Chicago Average Rent Prices by neighborhood and bedroom count – 2016

Chicago Average Rent Prices by neighborhood and bedroom count – 2016

Chicago Average Rent Prices by neighborhood and bedroom count – 2016

Chicago Average Rent Prices by neighborhood and bedroom count – 2016

Until the next time,
Mark Killion
Real Estate Broker
Kale Realty
773-354-6693
Visit me online: www.773property.com

Average Rents in Chicago by neighborhood

Average Rents in Chicago by neighborhood

Average Rents in Chicago by neighborhood

Bronzeville Rent Analysis – Chicago

Let’s take a quick look at rent prices in Chicago’s Bronzeville neighborhood.
This analysis is based on the 12 month period ending NOV-21-2013.
The picture above shows us the distribution of rent prices in Bronzeville.

The biggest slice of the pie represents the price range of $1,400 to $1,599.
The 2nd largest slice covers the price range of $1,200 to $1,399.
Together, they account for 50% of all rental transactions. So, half of the rentals
in Bronzeville are between $1,200 and $1,599.

A total of 206 units were rented during the last 12 months. So an average of 17
units are rented each month in the Bronzeville neighborhood. Here are the median
rents based on bedroom and bathroom counts:

=====================================
1 bed/1 bath: $837
2 bed/1 bath: $972
2 bed/2 bath: $1,254
3 bed/1 bath: $1,104
3 bed/2 bath: $1,533
3 bed/3 bath: $1,955
4 bed/1 bath: $1,225
4 bed/2 bath: $1,514
4 bed/3 bath: $1,997
========================================

Out of curiosity, I also wanted to compare the average rent for a 3bed/2bath
to the previous year’s amount. This way we can tell if rent prices are rising or
if they are falling.

During the previous 12 month period, a 3bed/2bath rented for $1,483 on average.
So the rent amount has increased by 3.4 % versus the previous year.

Well that’s all for now. I hope you found this information useful. If you are a tenant
looking for a Bronzeville rental, or if you are a landlord looking to rent out your
property, please contact me here.

In closing, I will leave you with a nice picture of a Bronzeville Mural.
This outdoor painting is near 40th and King Drive.

Bronzeville Mural

Until the next time,

Mark Killion
Kale Realty
542 W. Roosevelt Rd
Chicago, IL 60607

Send me a note!

Visit me online: www.773property.com

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House Made of Money

Here is a great article that I wanted to share with you.
It talks about the opportunity for investors to realize
high cap rates with single family home rentals:

Chicago Tribune Article

Also, I know of a portfolio of 8 single family homes
available on the south side. They are all rented out
and they are grossing $15K each. The taxes are low,
and at an asking price of $520K, you are looking at cap
rates between 13% and 15%!

Also, if you are just looking to pick up one or two properties
to start your portfolio, I can assist you with that as well.
You can get a brick single family home, with 3 bedrooms,
already rented out for $1,250 per month.
Those will run about $90K per house. And, these are turn-key
investments!

Until the next time,

Mark Killion
Kale Realty
542 W. Roosevelt Rd.
Chicago, IL 60607

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

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

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

I decided to analyze Chicago Rental prices for
the 2nd quarter of 2010. This analysis shows
the average rent price by neighborhood and
bedroom count.

This report can be very useful for both
investors and tenants. I also provide assistance
to both groups. I can help investors buy
and sell investment properties. I can also
help tenants lease quality condos and homes.

Click Here For Report

If you have any questions, please feel free to
leave a comment or visit my website:

Bronzeville Real Estate

Until the next time,

Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

As a licensed Real Estate Agent,
I have access to several Section 8 rentals in Chicago.
A lot of them are privately owned condos. Sometimes you can find a
few single family homes for rent too.

I have access to rentals listed by other real estate
agents too. I also know a few private owners that prefer housing
vouchers. So for current Chicago Section 8 rentals,
you have come to the right place!

If you are an owner, I can offer you a short listing period of only 3
months. Your listing will receive maximum exposure from being
in the MLS. I will also market your property online using various
websites. Your listing will also be featured on my website:
www.773property.com

I also have experience with the critical inspection process.
The fee for service would be equal to one month’s rent.
But, you pay $0 upfront. So, you only pay for results!

For Chicago Section 8 rentals, please click the link below.
www.773property.com

Until the next time,

Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

For more information regarding Chicago Condo Rentals, please contact me via my website.
Until the next time…

Until the next time,

Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

For more information regarding Chicago Condo Rentals, please contact me via my website.
Until the next time…

Until the next time,

Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY