What is the current rental market in lakeview and lincoln park? (apartment, renters)

[smallvillejane]

still a renter's market? is rent going up anytime soon?

[Avengerfire]

Rent is down down down down.

[smallvillejane]

for real? I am seeing on craigslist that some ppl are charging like 3 grand for some dumpy 2-3 bedroom apts in LV and LP.

Originally Posted by Avengerfire

Rent is down down down down.

[Irishtom29]

Originally Posted by smallvillejane

for real? I am seeing on craigslist that some ppl are charging like 3 grand for some dumpy 2-3 bedroom apts in LV and LP.

Evidently that's down. And what people ask and what they get are different things.

[Avengerfire]

Originally Posted by Irishtom29

...what people ask and what they get are different things.

Nail meet head.

[naprapath]

Totally disagree - the rent is always dependent on quality and location. Just like everything else in life. The prime units are actually getting more these days because those people who are ineligible for mortgages due to increased tightening of lending practices are now having to rent instead of buy. Thus more people in the rental market and L.P. and L.V. are high-end areas.

A completely renovated place with modern appliances, near public transportation, smaller and well-kept building in a quiet area (for example: Seminary and George St) are getting high rents still while an older unit that is 100 years old with carpet and barely working appliances, slow faucets, etc to match the age in a high congestion, poor parking, and higher crime area (such as Clark and Belmont) will obviously net smaller rents.

You need to compare apples to apples and understand that there are vast differences in apartment quality and amenities. Just to say that it is a "great" or "large" 3 bedroom in Lincoln Park and/or Lakeview doesn't really say anything. We've found that great places go fast and at high prices while the other less desirable ones take much longer to rent and the landlords will take just about anything to get them rented. Just like always - good times or bad. But don't disregard the fact that there are MANY more renters these days vs buyers due to the banking failures and current lending crunch.

[jman07]

There might be more renters but there are many condos being rented out as apts right now and people loosing their jobs who are moving back home permanently to save money until they get a job or for good. I know from the CL subleasing section that there are much more apts now than there used to be.

[theunemployed]

My landlord continues to charge 1300 for a nice 1bedroom near the lp zoo. He has kept rent static for 3 years now.

But I would consider that to be a function of his unwillingness to upgrade the place. While it is nice, big, with a view of LM, he could get more for the place if he did some work on it.

I would say rent overall in LP is somewhat stagnant over the past few years and my apt is a pretty good gauge.

[beardtongue]

Just move to a suburb lol. if you want to pay that much to live next to a panera, may as well. LV and LP is where everybody gets mugged too.

[Feeling Brackish]

It's important to remember that there are muggings in all neighborhoods, but I would hardly say that Lakeview and Lincoln Park is where "everybody gets mugged." I've lived in Lakeview for three years now and I've never been mugged, and none of my friends around here have ever been mugged.

As for Panera. Yeah, there is one. Big deal. There are also tons of locally owned bars, restaurants, and shops of all kinds, not to mention many public transportation options. To get downtown I can take the Red Line, the Brown Line, the 145, 146, 135, 151, 22, or 36 bus.