Are Chicago rent prices dropping? (Grant Park: real estate, rental market, home)

[city414]

http://finance.yahoo.com/real-estate...acancies-Spike

[Lookout Kid]

Originally Posted by city414

http://finance.yahoo.com/real-estate...acancies-Spike

I don't see Chicago on that list. The last figures I saw showed residential rents climbing in Chicago, while office and retail rents are diving fast. People are putting off buying real estate, so they rent instead.

[Avengerfire]

I sure hope so.

[supernerdgirl]

hee, my rent is going up a whole $6 this year!

[lincolnparker]

I wonder why rent woulnt go down given the following:
1. Chicago's city population is dropping.
2. Glut of unsold new constructions flooding the rental market
3. people are losing jobs and as such cannot afford expensive rental properties
4. young ppl are moving back home with the 'rents to save money while job hunting.

[Avengerfire]

Originally Posted by lincolnparker

I wonder why rent woulnt go down given the following...

Oh it is going down if you know where to look and know how to bargin.

[atlantis7]

It looks like a mixed bag of perspective on Chicago. I lived in the city in 91 at North Pier Tower..loved the location and one of only two buildings that allowed me to have my two big dogs. Olive Park and the Lake shore filled that bill and Grant Park next door. But times have changed and I doubt that if my wife and I move back, we can afford to live downtown now ... even rent!

Weve been used to living in a house, have a bunch of stuff and need from 2000-2500 sq ft. and parking for two cars. Already discounting that I would find anything like that to buy, where are the best areas to find something that fits that description that is safe and possibly near the train line? My range is 200 to 260k.

An until I could locate something, where are good places to rent??

[Lookout Kid]

No one really knows if Chicago's population is dropping, by the way. Census estimates have proven to be useless in the past, and often differ from the actual count on the decade.

[Avengerfire]

2000-2500 sq feet in the city with private parking for two cars, under 260k, in a decent area,easy access to a train, and allows two dogs?

I normally avoid speaking the word impossible, but in this instance I am pretty sure it is.

[atlantis7]

I figured. Before I left Chicago, I had an offer in on a second floor two bedroom at Lake Point tower...1700 sq feet...$165,000 looking at the Lake straight on and Navy Pier... wish I'd just bought it and rented it out..maybe I would have been able to survive the dismal shape we are in now.

So where is the next best place to look and before that the best bang for the buck on a temporary rental in the ciy?