The Chicago Apartment Rental News - May 23, 2012
In this week’s apartment rental news, the Chicago housing market is steadily recovering, as shown by an upward tick of home prices, average rents, and number of homes sold since last June. The city is fostering the growth of Chicago’s downtown area with a new 45-story building of office space, while community members rally for policies to encourage landlords to keep their property from falling into disrepair. Read more in our collection of latest real estate news from around the Chicago area.
April condo sales were at an all time high since last June with the highest prices since September, showing a steady recovery in the Chicago-area housing market.
Average rents in the Chicago area have shown modest increases since 2008, but the average rent in suburban areas of Chicago is $1.17 per square foot per month, far less than rents in the city’s urban center.
River Point, a 45-story building, will be Chicago’s biggest real estate project in 5 years. In a plan to build up the city’s downtown area, the downtown structure is slated to draw in corporations as the local economy recovers.
This op-ed piece approaches the issue of property owners letting the homes they rent fall into disrepair.
This video advises house hunters on how to choose a broker and what to look for when touring a property.