• Luxury Living Chicago, a high-volume real estate brokerages focusing on the luxury market, compiled data on its work in 2015, noting trends and price points that the market will bear.
  • Location and price were the most popular driving factors, with apartment finishes coming in just after those top two.
  • The psychological barrier of $2,500 for a well-appointed one-bedroom unit was broken.

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by CareyBot

Luxury Living Chicago, a high-volume real estate brokerages focusing on the luxury rental market, compiled data on its work in 2015, noting trends and price points that the market will bear. Their primary findings related to the top reasons renters chose a specific home. Location and price were the most popular driving factors, with apartment finishes coming in just after those top two. When making a selection based on location, 15.8 percent of the brokerage’s clients chose their apartment because of its proximity to work. Another 21 percent made their choice based on the neighborhood, with the most popular neighborhood being River North. Average luxury rental price The brokerage reports and average company rental price of $2,577, slightly more than the $2,565 recorded in 2014. T...