A year ago at this time there were 494 MLS-listed homes and condos available for rent in ZIP Codes 60614, 60657, 60613, 60640, 60660 and 60626. Those ZIP Codes span from Lincoln Park north to Rogers Park along the lake.
As of yesterday evening the inventory of available rentals in these ZIP Codes had soared 50% year-over-year to 742. That’s 5% over the level from 10 days ago and the highest number we’ve seen since we began tracking nearly two years ago.
The new 269-unit Halsted Flats, 3740 N Halsted in Lake View, is nearing completion and beginning a pre-leasing program. The full-amenity building is likely to provide some tough competition to older condo rentals in the area.
However you interpret the numbers, there’s no doubt that renters have a greater variety of options than they’ve had in the past two years.