Chicago’s downtown apartment rents hit record high – Crain’s*

The net rent at high-end, or Class A, apartment buildings hit an all-time high of $3.55 per square foot in the first quarter, up 19.1% from a year earlier, according to the Chicago office of Integra Realty Resources, a consulting and appraisal firm. After plunging with the arrival of the COVID-19 pandemic, the downtown multifamily market is soaring once again, pushing up the cost of housing and pumping up the profits of landlords.