Luxury Chicago Apartment Prices Finally Coming Down—Too Bad Leasing Season is Over!
October 4, 2011 | By Aaron Galvin
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It took about a year but we are finally starting to see some price decreases and increased concessions again in the luxury Chicago apartment market. Buildings like Flair Tower and Parc Huron, two River North apartments have steadily been increasing their rental prices since they opened in Spring 2010. Both properties reached almost 100% occupancy and were asking rents of $2200 for 1 BRs and $3200 for 2 BR…and people came in droves!
Now, the slow season has hit and prices are falling. The same 1 BR at Flair that was leasing for $2105 is now $1895 and the 2 BR are under $3000 again. If you are looking for the best value, late fall and winter is the time to move…if you can handle snow!
Start your Chicago apartment search with Luxury Living Chicago today by browsing through our inventory of apartments. We have the most up to date pricing and availability.
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