Many of Chicago’s high-rise apartment buildings offer flexible lease terms ranging from as few as two months to the typical 12-month lease.
You’ll generally pay a premium for a shorter term lease, and the shorter the term the higher the premium. A one-bedroom apartment, for example, that rents for $1,700 a month for 12 months might set you back $2,400 a month on a two-month lease.
That general approach doesn’t prevail at all buildings at this time of year. Chicago landlords typically disfavor leases that expire in December and January, and some are currently offering a lower monthly rent or not charging a premium for 8- or 9-month leases.