• New multifamily projects downtown have amenities and in-unit finishes that meet or exceed condo developments.
  • Rental tower is offering $500 concessions.
  • Chicago condo values are up on a year-over-year basis.

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by CareyBot

Chicago's skyline is changing, and more people are getting the opportunity to live high above the streetline. Part of the larger mixed-use development NEWCITY, the 199-unit Residences at NEWCITY is leasing studios and convertible one bedrooms starting at nearly $1,900, with true one bedrooms in the high $2,300 range. The property, which is currently 40 percent occupied, is also offering tenants a $500 sign-up bonus following application and administrative fees, according to its leasing office. According to Rent Jungle, the average rent for a one-bedroom in Near North Side was $2,559 in October. NEWCITY's high-end interior finishes, outdoor balconies and community amenities sound like things you'd expect from a new condo development. However, these features are no surprise con...