Five years on, some rents rise sharply at Kingsbury Plaza

by Joe Zekas on 4/5/12

Kingsbury Plaza was nearing completion in River North five years ago, and we reported the rent schedule: studios from $1,096, convertibles from $1,195, one-bedrooms from $1,691 and two-bedrooms from $2,602.

The starting rents for one- and two-bedroom apartments at the luxury high-rise have risen only modestly over the previous five years, up 10.6% to $1,871 for one-bedrooms and 9.3% to $2,845 for two-bedrooms.

Starting rents have soared for studios, rising 33% to $1,454 and convertibles, up a whopping 50% to $1,796.

You can see a near real-time view of what’s available for rent at Kingsbury Plaza and other River North high-rises by clicking the links in the Avail column on YoChicago’s at-a-glance apartment list and map and map.

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{ 3 comments… read them below or add one }

marco April 5, 2012 at 6:45 PM

I know a couple of people moving out because of the increases.

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Joe Zekas April 5, 2012 at 8:47 PM

marco,

But where can they go in the area for lower rent with comparable amenities, layouts, views, etc?

Reply

marco April 6, 2012 at 11:37 AM

One person is buying a 1 bedroom in river north for less than rent in a full amenity building (no pool though). The other is moving to a different neighborhood. They both would have stayed if rental prices weren’t going up too much.

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