Search condos for rent in Chicago and the suburbs. Get to know your neighbors in your Chicago condo and enjoy the building amenities, fine furnishings and upgraded fixtures that come with many condos for rent.
Why Rent a Condo in Chicago?
Renting a condo, instead of a traditional apartment, can be an alternative for renters who are broadening their search for rental properties in Chicago. Chicago condos for rent are often found in buildings that have received extra attention from developers or property managers. A wave of condo conversions took place in Chicago during the 1990s and early 2000s. Developers went in and rehabbed many pre-WWII and mid-century buildings with new electrical, plumbing and finishes, making them more attractive to home buyers. In the years following the housing crash of 2008, the number of Chicago condos for rent has increased substantially as more people in Chicago are looking to rent versus own their home. Chicago condos for rent by owner have become commonplace, and there’s even a trend of entire buildings reverting back into rental apartments from condos.
Renters who are fortunate enough to find a condo for rent may find places with a bit more personality in terms of finishes and design. And when it comes to maintenance, there may be a little more DIY expected of renters who end up signing leases for condos. Condo buildings aren’t generally managed in every single facet; condominium boards arrange for upkeep and maintenance of the common grounds but repairs to the interior of condos are left up to the discretion of the owner. It typically works out that renters will deal with the condo’s owner as a small-scale landlord instead of a property management company that’s responsible for the entire building.
Where Can I Find Condos For Rent in Chicago?
Renters can anticipate finding condos in neighborhoods with many vintage buildings, such as Lincoln Park and Lakeview. The downtown neighborhoods of Gold Coast, River North, Streeterville, the Loop, West Loop and South Loop contain a decent number of condos for rent as well. Many condo buildings in areas like Bronzeville and South Shore have undergone deconversion, turning back into apartments as renter demand has picked up in the last decade.
Some of the most famous addresses in the city are in fact condo buildings and renters with a keen eye for the city’s iconic buildings can find condos for rent in these noted buildings. Places such as Marina City and Astor Tower, which were designed by influential architect Bertrand Goldberg, regularly have condos that are available for rent. Cap limits on rentals will vary among different condo buildings in Chicago, but there’s a decent chance that renters could end up renting a condo in a Mies Van der Rohe-designed building at 860-880 N Lake Shore Drive; or they can find a modernist masterpiece designed by architect Helmut Jahn at 600 N Fairbanks Ct; or a building that helps define the city’s skyline like 875 N Michigan Ave (formerly known as the John Hancock Center); or a classic art deco style building like The Palmolive Building. These residences give renters the opportunity to brag about living in a landmark building without having to place a down payment and take out a mortgage on the place. Imagine getting the flexibility of renting in an apartment building while getting the upgraded fixtures and hardware of a custom-designed condo -- not a bad deal!