South Loop rental market is very active

Yesterday we linked to a Crain’s story which reported, as a side note, that AMLI900 was fully leased. A source we talked to expressed skepticism about that claim but related that AMLI900 had leased 60 or 70 units in the past several months, without offering much in the way of incentives.

We also talked to Britta Rivera, Director of Sales at Weichert Frankel & Giles to get her take on the South Loop rental market.

“The South Loop condo rental market has been really, really busy,” said Rivera. “We’re seeing both first-time renters and move-arounders looking for deals.”

The numbers we’ve been tracking confirm the brisk rental pace in the South Loop. Last November, for example, 240 condos and townhomes were listed for rent in the MLS. Earlier this month that number had fallen to 143 before trending upwards again. The recent increase in inventory probably reflects the strong rental market and the much weaker sales market.

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