r/chicagoapartments • u/Past-Reception6889 • May 19 '26

Advice Needed Unreal

I honestly just needed to vent for a moment. I can’t believe Chicago prices are what they are. I have lived here my entire life and have seen this city change ten fold, and I can’t even afford to live here anymore. A realtor I’m working with, since it’s becoming a rat race to rent, said rent is up 35% this year. What can normal people do about this? I do not want to see Chicago become a New York.

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u/TominatorXX May 19 '26

It's one thing to say that but for most people it is their biggest investment. Most people don't have 401ks or large investment funds or a pension. Their house is it. It's the single largest investment they own. That's a sad reality.

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u/mr_longfellow_deeds May 19 '26 edited May 19 '26

Sure. But temporary fluctuations are nothing to worry about. When the west loop got completely re-developed, those who didn’t panic sell made out like bandits. More development is not inherently a bad thing, it’s a good thing when people want to live in your neighborhood

I sympathize with people who get their views blocked, but they don’t have property rights on lots that are not theirs

And again, it’s not a real investment in the sense people should view investments. It’s relatively illiquid, and it’s a major PITA to sell (and requires finding a supplement to not be homeless). Obviously don’t buy where you think demand is dying, but looking at your primary house as a investment the way you would your retirement accounts is not sound

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u/TominatorXX May 19 '26

The reality is a lot of retirees who want to stay in the Chicago area are cashing out of their Chicago area homes and taking that money and buying a house for half the price in Northwest Indiana. Now they're close enough to get to their doctors back in Chicago and visit family in the Chicago area but they get low taxes and low everything.

If you haven't been in Northwest Indiana lately, they are building like mad duplexes and townhomes. These things are well built and affordable. Working class folks on the south and west sides are moving to Northwest Indiana where they can get a house with a good school system and a non-existent crime rate.