ChicagoDowntown / Loop

See what’s really for rent in the South Loop

by Joe Zekas on 1/24/13

The biggest news in the South Loop apartment market – although it will have little impact on renters – is that ST Residential has put The Lex, a 326-unit condo-turned-apartment tower at 2138 S Indiana, up for sale.

Rents and availabilities in the South Loop appear little changed from week to week, with one exception: 1401 S State is showing only a single unit available, a 1-bedroom renting for $2,243 a month.

If you want to rent in the South Loop, you can see all of your managed apartment building options on YoChicago’s South Loop availability list, below. Where only a single price is listed, it’s an indication that only one unit of that type was available at the time we checked.

There are only a dozen large apartment complexes in the South Loop, and we’ve listed all of them in this Google spreadsheet, and checked what’s available for rent, and what the rents are, in 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 dogs subject, in some 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 where you can search MLS-listed condos and townhomes available for rent.

If you’ve been searching Craigslist for South Loop 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 the South Loop than our availability list. If you know someone who’s looking to rent in the South Loop, send them a link to this post or to the spreadsheet. If you’d prefer to rent a condo, virtually all of them are listed in the MLS and can be searched at reputable broker sites. Show your support for YoChicago by visiting the website of one of our parent firm’s clients.

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{ 25 comments… read them below or add one }

Nevin January 25, 2013 at 10:10 AM

Hi Joe,

Came across your post on everyblock, then went through and read this article and some of your other ones. There is some very useful information in your posts, however it seems you have a pretty hard slant against rental brokers/agents. especially saying things like “virtually all of them engage in deceptive behavior or worse”. That’s a very untrue generalization.

I personally specialize more in rentals currently due to the market and I am a licensed managing broker and have been licensed and active since 2003. There are many brokers that are in the same position, people whom used to sell more houses but due to the market and the need to make a living, pay your bills and feed yourself and your family have had to adapt to the market and rent apartments.

I personally advertise and show apartments along with hire and train agents. Neither myself or my company advocate false advertising, bait and switch or anything that is in violation of license laws. Our rental database is set up such that we have the most accurate pricing available as we know that its not much more disappointing than falling in love with a place online (as well as the price) only to find out that the property is no longer available or the only unit available is way out of a persons stated price range. Quite honestly working in such a way is a waste of time for everyone involved.

Also, most if not all agents are independent contractors, so defining an individual agent by their agency isn’t quite fair. Of course there are agencies out there that DO the things that you have described in your articles but there are many out here that don’t. I personally pride myself in being able to find my clients places that they love and can afford. I receive referrals from my clients all the time. And although we do have relationships with landlords and management companies our clients (the renters) deserve the highest level of service as well. Our renters do not pay higher prices in rent due to the fact that they have representation either. All of my clients receive the same concessions that the management company offers on their own, and our commissions include the deduction for these concessions. I personally train every agent that we hire to represent their renters to their best ability, and show every possible option (including MLS) because its better to find someone a place that they are extremely happy with and receive a reduced commission as supposed to no commission at all. I’ve personally received checks as low as $150 for a client that I’ve worked many hours for, but the trade off in the amount of volume you can get as an honest broker from referrals down the road for rentals and eventually sales is well worth it.

I’m definitely not looking to start a fight on your page, but I do ask that you please do not generalize us and lump us all in the same category as the ones that you’ve had the unfortunate experience to deal with. Many of us are out here working and busting our asses with huge volumes of people (many whom don’t know the market and are shell shocked by the recent rental prices) on a daily basis in order to make a living.

Just because many of us don’t choose to pay half (or more) of my commission check to a larger more well known brokerage like K&S or Rubloff doesn’t mean the service we provide is any less. Agencies like mine that practice both rentals and sales actually have more options to provide renters than many of the larger agencies because we have more private agreements with landlords and property management companies. We also (well the good ones) know the qualification standards ahead of time and can inform clients of them prior to scheduling appointments such that people aren’t wasting time out of their busy schedules looking at places they can’t even qualify for.

So once again I just ask that you please don’t lump us all together like that as not ALL of us are the same and making generalized statements like some of the ones you have can hurt the good ones out here that are actually working hard to make your search for your new home much easier.

Reply

Joe Zekas January 25, 2013 at 11:18 AM

Sorry, Nevin, but I’m not buying your story, and find it sad that you think anyone would.

If you used an email that corresponds with your brokerage, then virtually all of the rentals on your Speedhatch-based website derive from the MLS. Is there a reason why you blow off MRED’s requirement for displaying the broker reciprocity icon properly on search results pages?

I can’t find a broker license that corresponds to the company name on that website. Nor do I see the disclosures that the state requires a broker to make on its website.

The IDFPR database shows your license sponsored by a broker firm your LinkedIn profile says you left six months ago. What’s up with that?

All of the rental services protest that they’re “one of the good ones.” From what you’ve said and what I can see you’re not, and well deserve being lumped in with the rest of them. Indications are that you’re worse than many of them.

If I’ve misidentified your website, please disclose your full actual name so that I can rectify my mistake. I’m betting you’re unwilling to have the notion that you’re a good guy put to the test.

Reply

Nevin January 25, 2013 at 11:58 AM

That’s exactly the unnecessary critical tone I was referring to.

Actually, if you click on any of the properties it does display the broker reciprocity. I show MLS all the time as well, yes it is true that you would have to collect a lower commission if you show MLS, however those are the breaks. I show studios under $600 all the time with no problem. It’s not just about the big deals, if you’re in this business for the long run its about volume, referrals and return clients. As a previous buyers agent, its one of the unfortunate aspects of the business that the better you negotiate for your client, the less you get paid. Same with rentals.

I simply didn’t post my website or information as I wasn’t trying to advertise on the site as I figured that would be considered some sort of tactic on my side. However since you mention it, I will disclose. I have been a licensed broker since 2003, never disciplined and always act in accordance to the law.

My full name is Nevin Harris, my website the speedhatch site that you mentioned is NevinHarris.com, if you note at the top I have NNH Property Group – Chicago Real Estate Services. NNH Group is my own personal branding under my current Real Estate brokerage Chicago Real Estate Services. My previous brokerage was Prospect Equities, as to why the IDFPR does not have my updated brokerage may be due to me recently changing brokerages.

I am a very honest and good person, and although I’m feeling that I most likely can’t change your opinion overall, I do want you and your readership to know that there are good Brokers out here that do what we can to provide the best service to our clients.

Reply

Nevin January 25, 2013 at 12:08 PM

I do want to add though… I don’t work every neighborhood in Chicago, I work along the lake from Lakeview south to around South Shore occasionally. I keep my business in areas where it is convenient for me to work such that I don’t have to worry about the trade off of lower commissions if a MLS listing works better for a client. If rents are too low or the neighborhood is too far for me to feasibly work I refer the client to another agent that specializes in the area so they still receive a high level of service.

BTW the website is still a work in progress, so please excuse the basic search function.

I do hope that helps and also hope that my openness shows you and your readership that I’m speaking the truth and not just posting a story.

This is your forum, not mine, I completely understand who has the power here.

Reply

Joe Zekas January 25, 2013 at 12:50 PM

Six months is recent? Has your change of sponsor even been submitted to the state as the law requires?

The site for the broker your LinkedIn profile says you left six months ago is also still displaying your name and picture.

According to your LinkedIn profile you spent nearly three years, cumulatively, at Rent Smart and Prospect Equities. You, of course, weren’t like the rest of the folks at those operations.

I’ve forwarded a link to your website to the compliance staff at MRED. They’ll inform you of the particulars of how it’s deficient – something that real professionals learn on their own.

An attorney or a professional broker can tell you what else you need to do to bring that site into compliance with the Illinois Real Estate License Act.

There’s more – but you’re simply not worth the time and effort. In my experience, good guys get all the basics right. And guys who don’t need to be avoided.

Reply

Nevin January 25, 2013 at 12:59 PM

I figured that would be the type of response I would get. I’m not going to go back and forth with you here Joe. My website is simply a search engine for properties.

I’m a Realtor and member of CAR and everything else. I also see we have some mutual acquaintances on Facebook. That’s fine though, you’re going to think what you want to think. Like I said, I wasn’t trying to start a fight.

And BTW, I don’t have any control over what my old brokerage does.

Take care.

Reply

Joe Zekas January 25, 2013 at 1:19 PM

Nevin,

You presumably have control over what you do, and you don’t follow the rules.

Since you’ve continued this exchange I’ll also mention that you’re running ads on your website for properties that support our Craigslist Apartment Cleanup – and that you’re violating the Illinois Real Estate License Act by doing so. The ads have the landlord’s copyrighted photos with a Prospect Equities watermark overlaid on them.

I don’t know where you get the concept of “a fight.” This is, in my book, simply about your dishonestly claiming to be something you’re not. I’m going to think what the facts dictate I think.

Renters need to know that brokers who don’t comply with the laws that govern their business are unlikely to treat them fairly.

Reply

Nevin January 25, 2013 at 1:29 PM

Old photos that “I” uploaded to a system that “I” implemented, even the watermark. I’ll give you that one though, I do need to re-upload my photos.

I am not claiming to be something that I am not.

Good day.

Reply

Nevin January 25, 2013 at 1:32 PM

I’ve also removed my *two* ads with the dated watermarks.

Reply

Joe Zekas January 25, 2013 at 10:21 PM

Those were not just “dated watermarks.”

They were copyright infringement of the worst kind – pretending to ownership of someone else’s copyrighted photos.

Reply

Cortney January 25, 2013 at 1:32 PM

Wow…Joe,

I don’t know you, but sheesh, you sure do love to attack people and lump them into one category. I wouldn’t take your advice even if you paid me for it. Based on your comments to Nevin, I think your just an ass.

Good day.

Reply

boiztwn January 25, 2013 at 6:30 PM

And Joe wonders why people don’t identify themselves when he badgers them constantly that only THEN are they given validity.

lol

Reply

Cortney January 25, 2013 at 1:36 PM

Oh, and I currently live in the South Loop, and am looking for a place. AND I’m the daughter of a real estate broker who has been doing business for 30 years. She would mop the floor with you and you’re attitude towards brokers.

Reply

Joe Zekas January 25, 2013 at 1:41 PM

Cortney,

Have you not noticed that brokers are our primary clients for 25 years, and that we respect and value the services of professional brokers?

Rental services are another story, and we’re doing our best to tell it.

Reply

Cortney January 25, 2013 at 2:22 PM

What about brokers that do rentals? Just like Nevin…assuming they are all bad is ridiculous.

Reply

Joe Zekas January 25, 2013 at 2:26 PM

Cortney,

I’ve never said anything like what you’re claiming I’ve said. There are lots of good brokers who do rentals. And then there are the rental service companies …

Reply

Nevin January 25, 2013 at 1:47 PM

So because I’m a Realtor of 10 years that also does rentals to make a living I’m a bad guy and not professional?

You’re obviously slanted towards you particular group of brokers and brokerages. That’s been made obvious.

Reply

Joe Zekas January 25, 2013 at 1:56 PM

How about responding to the facts I’ve cited?

I know a number of experienced Realtors who do rentals – and are good guys who do them professionally.

Of course I’m biased toward brokers that comply with the laws.

Reply

Nevin January 25, 2013 at 2:15 PM

You’ve made it clear its more about people you know. I’ve also responded to everything you’ve said. I’ve been in compliance with the laws and will continue to do so.

Just the fact that you have absolutely nothing positive to say in regards to anything I’ve said on here shows your bias.

I do respectfully ask that we end this conversation upon mutual disagreement.

Reply

Joe Zekas January 25, 2013 at 2:29 PM

You’ve given me no reason to say anything positive about you – apart from the fact that you did step up and identify yourself, for which you deserve some credit.

Simply claiming that you comply with the law doesn’t change any of the facts about your behavior.

Reply

Nevin January 25, 2013 at 2:44 PM

Thanks for the one part Joe, I’m done, overcooked and overdone, the fork cannot even penetrate my decimated posterior. Take care Sir.

Reply

Chris January 25, 2013 at 6:15 PM

Well said Nevin and Cortney.

Joe – Since you are the watchdog on bad business practices within the industry, why are you still promoting Chicago Rentals Direct when it’s already been proven that they are acting just like the rental services? Why aren’t you vilifying them? The fact that they are still on your site is completely hypocritical.

Reply

Joe Zekas January 25, 2013 at 10:18 PM

Chris,

Nothing has been “proven.”

Stephanie Konow assures me, via email, that Chicago Rentals Direct is not operating as a rental service.

And Nevin fesses up to copyright theft and running stale ads in violation of state law, and you want to say “well said?” Are you serious? Do you have even the dimmest understanding of what’s gone on here?

Reply

Nevin January 26, 2013 at 11:16 AM

Did not “fess up” to copyright theft or running stale ads. So lets not misstate me please. as I previously stated, those were MY watermarks that I added to my photos under my previous brokerage (whom I’m still very good friends with the owner BTW) while in charge of the leasing division, which I have updated and remedied since you so “kindly” brought it to my attention yesterday. I’ve also notified my current managing broker to contact IDFPR in regards to THEIR not updating my license. Obviously I’m still a bad guy not a professional for that as well in “Yo” eyes.

Reply

Joe Zekas January 26, 2013 at 11:55 AM

Nevin Harris,

Since you insist on digging yourself a deeper hole, here’s a screen cap of one of your ads, shot a few minutes ago. The ad includes photos that are copyrighted by Planned Property, and which you describe as your photos. They’re not your photos. Adding “your” watermark to them was a serious violation of copyright law.

Here’s another screen cap of links to other ads for the same property, also shot a few minutes ago. Those ads have the same watermark on the same copyrighted photos that are not your photos.

Did you have the express written permission to run those ads that the law requires? You didn’t.

If you had any familiarity at all with the state licensing requirements – or any regard for them – you’d know that you’re required to carry a sponsor card / pocket card showing your current brokerage sponsor. You didn’t, at any time during the past six months, notice that you didn’t have a sponsor card / pocket card with your current broker’s name on it?

You’re affiliated with a broker that hasn’t realized, after six months, that it doesn’t hold your license? Have you received commission checks from your current broker within the past six months? If you have, and your current broker doesn’t hold your license, your current broker cut those checks in apparent violation of the state license act.

Are you seriously suggesting that IDFPR failed, and not you and your current broker?

Yeah, Nevin, on the basis of your own statements in this thread you are indisputably one of the bad guys.

Reply

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