ChicagoDowntown / Loop

Are River North rents drifting downward?

by Joe Zekas on 8/30/13

Removal of the large billboard that had been on the site is the first visible sign of progress on a new 33-story, 290-unit apartment tower slated for the northeast corner of Chicago and LaSalle.

Rents appear to have drifted downward in the neighborhood over the past month and a number of the buildings have more units available than they did a month ago.

Apartment rents at Chicago’s downtown high-rises are frequently updated by programs similar to those used by airline reservation systems. We take a periodic snapshot of River North rents and present it here.

If you’re looking to rent an apartment in River North, you can see all of your managed apartment building options on YoChicago’s availability list, below.

Apart from the new buildings, there are currently only twelve large apartment complexes in River North, and we’ve listed all of them in this Google spreadsheet, and checked what’s available for rent, and what the rents are, in almost all of them. The spreadsheet is accurate as of the close of business yesterday. Rents listed are for 12-month leases for apartments available now through next month. All of the buildings accept cats, and all but three accept dogs subject, in most cases, to weight and breed restrictions.

Our spreadsheet contains links to each building, links to videos where available, and links to near real-time availability checks for the buildings that offer that feature. The spreadsheet, which is updated weekly, also has links to several reputable major brokerage sites (clients of our parent firm) where you can search MLS-listed condos and townhomes available for rent. Beyond those options there are only a few small rental buildings in River North, with rare availabilities.

If you’ve been searching Craigslist for River North apartments you already know you’re wasting a lot of time and encountering a lot of bait-and-switch ads. You’re unlikely to find anything at Craigslist that you won’t find through Yo’s list.

If you’re considering working with a rental service / finder, consider the twenty-five things rental services won’t tell you. Consult our do-not-call list for the rental services – virtually all of them – that engage in deceptive behavior, or worse. Support our Craigslist Apartment Cleanup campaign by liking our Facebook page.

We think there’s no faster or easier way to find your next apartment in River North than our availability list. If you know someone who’s looking to rent in River North, send them a link to this post or to the spreadsheet.








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  3. An up-to-date list of River North apartment rents
  4. River North apartment rents, an at-a-glance list

{ 4 comments… read them below or add one }

the urban politician September 1, 2013 at 3:11 PM

Are you trying to say you think that the predictions by some are true that there is going to be a glut?

Reply

Joe Zekas September 1, 2013 at 5:15 PM

tup,

I’m monitoring the situation and in wait-and-see mode. The future state of Chicago’s economy is the wild card that makes any predictions fairly dicey. Plus, I’m under-qualified to make predictions about this market and hate doing so.

Reply

tone September 3, 2013 at 7:54 AM

Job growth has accelerated in the Chicago metro this year, beating most forecasts that I’ve seen. Anecdotally, there seem to be a lot of companies hiring and job postings are at elevated levels.

Reply

the urban politician September 3, 2013 at 8:24 PM

More importantly, what is job growth downtown? Rents in central area apartments are going to be most impacted by this rather than what the suburban office park vacancy rate is

Reply

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