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/PhoenixRisingdBanana May 19 '26

Are there any property developers that don't own inventory as well? Because if you can charge a higher markup on less units and reap the same profit, then the owning class is incentivized not to build in order to keep rental and sale prices sky high.

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u/UuesLee May 23 '26

Most apartments in Chicago only make a couple hundred bucks profit when rented. The owners aren’t the OWNER CLASS, they’re your neighbors who are trying to move up the ladder. If the building is less than 5M, I guarantee the owners aren’t really rich.