Many of Chicago’s rental services won’t show MLS-listed condo rentals even though they’re often priced below apartments in managed buildings. The simple reason is that the rental service would need to split the commission, which is usually a month’s rent, with the listing broker. If you’re willing to spend $3,000 a month renting an apartment, the typical rental service doesn’t want to settle for a $1,500 commission.
If you’re only interested in renting in apartment buildings, you need to know that there are many buildings that don’t cooperate with rental services. If you’re working with a rental service, you’re going to miss out on some great apartments in great buildings.
You also need to be aware that some apartment buildings occasionally offer above-market commissions to rental services, paying 125% or 150% of a month’s rent. Chicago rental services can be very creative at steering you to apartments that offer them the biggest payday regardless of whether the apartment is best for you.
If you’re interested in living in a high-rise apartment in a lakefront neighborhood from the South Loop north to Lakeview, you’ll find all of the buildings on YoChicago’s at-a-glance lists. Our lists link to near real-time rent and availability information at the building websites, providing far more accurate and timely information than you’ll find in rental service ads.