I think we’d anticipated a rise in condos for rent following the end of the holiday season. Instead, we’re seeing more than 200 fewer units listed for rent on the MLS than we did the week of Thanksgiving.
According to our weekly survey of 14 downtown ZIP codes, condo rental availability dropped from 1,927 homes on November 27 to 1,718 as of this afternoon. Just two areas — 60603 (the central portion of the Loop, east to west) and 60661 (the Fulton River District and West Loop east of the Kennedy Expressway) — have more condo rentals listed today, and only by very small margins.
The zone where availability has dropped the most is 60608, which covers University Village, Pilsen, Heart of Chicago, and parts of the Medical District, Bridgeport, and McKinley Park. The number of units for rent there has dropped 33 percent, from 70 to 47.