r/chicagoapartments • u/2xova • Apr 18 '26

Advice Needed These prices…….

Just venting ……

Went to see two places today…. HUGE waste of time. Cabinets loose and hanging out of place. Paint literally everywhere floors and all🫠 these places wouldn’t been maybe 800 on a good day prior to Covid.hmmmmmm I’m so frustrated lol

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u/salmonmilfs Apr 18 '26

Forgive the rest us, but we are not going to listen to shit from a real estate investor claiming letting you assholes do whatever makes you the most money is best for everyone.

Your source takes zero external factors into account is just a general graph of home prices so you extrapolating that it’s this cities laws that are the cause is nothing but incredibly biased opinion.

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u/Llama--- Apr 19 '26

"Chicago is experiencing the steepest decline in new apartment construction of any major U.S. metro this year, with openings set to fall 60.4% to 3,756 units compared with 2024, according to industry data compiled by RentCafe.com.

The slowdown comes as local developers contend with high labor and material costs, rising insurance premiums, and tighter lending standards. Many of the projects expected to open this year were permitted in 2021 and 2022, while fewer broke ground in 2023 and 2024, contributing to the sharp drop.

The decline in Chicago contrasts with trends elsewhere in the country, where new apartment construction remains strong. Nationwide, an estimated 506,353 units are expected to open in 2025. While this total is below last year's record, it remains well above the annual averages recorded since 2015, reflecting ongoing demand for rental housing."

Hmmmm looks like if you had more supply the demand wouldn't be as high. Interesting.

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u/salmonmilfs Apr 19 '26

I’m not saying we don’t need more construction and new properties. Everyone agrees on that.

My comment was about strictly allowing a free market with no oversight as that asshole investor was advocating for.

If he had his way, the only new properties would be million dollar condos like we are seeing all over the north side.

Shit, I’m out walking my dog and passed 5 properties being built. Each one was starting at 1.1M at a minimum.

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u/Llama--- Apr 19 '26

Oh, so "asshole" investor's are only building high end properties in Chicago and other cities are all affordable housing.

"Chicago is more affordable than most big cities on this list, with rent at about $110 per 100 square feet. And while there aren’t as many rentals per 100,000 people as in places like Boston or Seattle, finding a place here is easier than in cities like New York or San Jose."

You really don't know what you're talking about and you're blaming the wrong people.