Crain’s – rents, occupancies fall in downtown luxury buildings

We’ve recently noted that a number of downtown high-rises, including ones in River North and Streeterville, have been offering incentives to new renters.

Crain’s Chicago Real Estate Daily is reporting, based on data from Appraisal Research Counselors, an apparent softening of the market for higher-end downtown apartments. Rents and occupancy rates in the third quarter of the year both fell from Q2 levels, but remained above levels of a year ago. Read the details, and suggestions of further marketing softening to come, at Crain’s.

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