Chicago rent barometer: South Loop for around $1,500

1620 S Michigan

We’ve been talking an awful lot about the South Loop lately, so we thought we’d check out how much it costs to rent out a piece of Chicago’s gangly teenager. Scanning some of today’s postings on Craigslist, we found several South Loop rentals hovering around the $1,500 mark, and — surprise, surprise — many of them were in condo buildings. A two-bedroom rental on the 9th floor of 1620 S Michigan (pictured) is going for $1,349 a month with all utilities except electricity included (garage parking is an extra $200 a month). There’s also a $1,250 one-bedroom advertised at 16th Street and S Michigan Ave, which means it’s probably in the same building.

Other finds include a one-bedroom unit at River City renting for $1,200. A two-bedroom “loft condo” in a “full amenity building” at State and 15th streets goes for $1,800 (including garage parking), and a 1,400-square-foot duplex loft with two bedrooms and exposed brick and beams, located at 19th and Clark streets, goes for $1,600.

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