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.
I know a couple of people moving out because of the increases.
marco,
But where can they go in the area for lower rent with comparable amenities, layouts, views, etc?
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.