Living in a Downtown Chicago apartment will be more expensive this year – Crain’s*

If you’re on the hunt for an apartment in downtown Chicago this spring, brace yourself for some sticker shock. The net rent at high-end, or Class A, apartment buildings rose 32% last year, while the net rent at less-expensive Class B properties jumped 34%, according to the Chicago office of Integra Realty Resources, a consulting and appraisal firm. After plunging in 2020, rents rebounded from a low base, but they have recovered everything they lost and even hit new highs.