The Luxury Chicago Apartment Update

Chicago Spring Apartment Rental Pricing

2010-03-12T12:29:00.000-08:00

Spring has arrived in Chicago. With the change in season comes a change in apartment pricing.

The downtown Chicago luxury rental properties are moving the last of their winter inventory, offering just a few deals on a few units in an effort to ramp up for the Spring/Summer rental season.

What this means for the person currently searching for an apartment for an April thru May move date - jump on it! What you see now won't be there in a week (or even in a few days).

If you see your dream apartment now - rent it!

For example, one of the newest properties in River North has been offering convertible apartments for $1475. This week, prices for those same units have jumped up to $1660.

Another popular property in Lakeshore East has been offering all one bedrooms for a flat rate price of $1495. Those will be going up to $1600 by the end of the month.

At Luxury Living Chicago we strive to make our clients feel confident in selecting an apartment.

Search our inventory of luxury apartments today and take advantage of the last opportunity to rent that amazing convertible apartment for $1295 instead of $1450.

What Sets Us Apart From Other Chicago Apartment Finder Services

2010-03-03T21:27:00.000-08:00

Luxury Living Chicago works hard to set our service apart from other locating companies in Chicago.

With six years of experience, exclusively in the downtown high rise arena, no one has more knowledge or insight about this niche market.

Whether you are coming from out of town, live in a Chicago-land neighborhood or currently rent downtown, Luxury Living Chicago offers a personalized service that will help you feel confident in selecting your next home.

If you've been on Craigslist lately to search for an apartment, you know how cluttered and confusing it can be. The pricing is wrong, the pictures are inaccurate and your requests for showings go unanswered.

We only provide the most up-to-date pricing and never "bait and switch" our clients with false advertising.

We pride ourselves on our quick response time. While other companies promise 24-7 service, we deliver.

Plus, our leasing consultants live the downtown life. They are not fresh-out of college. This is their career and they understand the needs of the upscale, professional client looking to live in a downtown Chicago high rise.

Our service is especially valuable for those who are relocating and are unfamiliar with downtown Chicago. We make the large world of internet searching much smaller and easier to decipher.

Feel free to call or email us with any questions. You'll hear back from us right away!

Why Renting To Own Isn't Always the Best Option

2010-02-19T21:15:00.000-08:00

Many of our clients ask about “rent to own.” It sounds like a great deal but the reality is that the current real estate market doesn't support a “rent to own” option.

Here’s why: Let’s say you rented a place for $2000 per month and negotiated with the landlord a 25% “rent to own” credit. (That is, at the end of the lease, you would get 25% of your rent back towards the purchase of that particular condo.) After one year, you would have “earned” $6,000 “rent to own credit.”

That credit is nothing when you consider that a typical luxury one bedroom Chicago condo sells for at least $300,000.

Plus, when you "rent to own" you often establish the purchase price at the start of the lease, not when the year is up. Things can change in the year and the value of property could drop below the established purchase price.

Assuming you want to purchase the property, you would be better off negotiating the price after your lease is up. In fact, most condos are selling at 15-20% lower than two years ago.

If you have been a quality tenant, paid your rent on time and been easy to work with, the landlord/owner is going to be more than happy to sell you their condo rather than hire a Realtor, market the property and deal with showings.

Bottom line, lease what you want to rent and buy what you want to buy. The real estate market is just too volatile right now for "rent to own."

Downtown Chicago Apartment Occupancy Still High

2010-02-12T16:42:00.000-08:00

According to a recent article in Crain's Chicago Business, demand for downtown Chicago apartments remains strong heading into the Spring 2010 rental season.

There are definitely great deals to be had, but come late Spring those specials will disappear and traditional summer pricing will be in effect.

Luxury Living Chicago is currently renting for lease start dates effective March 1 - June 1, 2010.

Building specials include flat rate pricing and $99 parking. You can't beat these late Winter deals!

Search our properties today!

It's All In The Details - Apartment Search Criteria

2010-01-28T14:23:00.000-08:00

Finding the right luxury apartment in Chicago can be simple, especially when you know what you are looking for in your next apartment.

Communicating what is important to you will help Luxury Living Chicago narrow your search.

With a few simple details, we can comprise a short list of properties for you to view and choose from.

Here are a few examples of questions we ask our clients to tailor their search:

- When is your move date? Move date is important because apartment availability changes daily. We do not want to waste YOUR time showing you units that aren't available for your move date.

- What is your price range? Price is very important. It will dictate everything from the size of your apartment to the type of building in which you live.

- Do you have pets? Not all properties allow pets, specifically dogs. If you have a dog (especially a large dog), there are only a handful of buildings that you can choose from.

- Do you have a roommate? Not all two bedrooms are created equally. If you are living with a roommate, you'll want enclosed walls and equal sized bedrooms.

You'll find that when you speak with our downtown Chicago apartment finders, they will ask you very specific questions. The more information you can provide the better.

Our leasing consultants are very knowledgeable about all the downtown luxury buildings - from what's included in the rent down to individual floor plans and unit layouts. This ensures that you are touring the right properties and not wasting time and energy.

Before you contact Luxury Living Chicago, make sure you have all your ducks in a row. It will help you find the luxury apartment of your dreams.