Search condos for rent in Chicago and the suburbs. Get to know your neighbors in a condo for rent and enjoy the building amenities, fine furnishings, and upgraded fixtures that come with many condos for rent.
Why Rent Chicago Condos?
Renting a condo apartment instead of a traditional apartment can be an alternative for renters broadening their search for rental properties in Chicago. Chicago condos for rent by private landlords are often found in buildings that have received extra attention from developers or property managers. A wave of condo conversions occurred in Chicago in the 1990s and early 2000s. Developers rehabbed many pre-WWII and mid-century buildings with new electrical, plumbing, and finishes, making them more attractive to home buyers. Following the housing crash of 2008, the number of Chicago apartments for rent by owner has increased substantially as more people in Chicago are looking to rent versus own their homes. A condo for rent by an owner has become commonplace, and there's even a trend of entire buildings deconverting condo buildings to rental apartments. Renters can find one-bedroom, two-bedroom, and three-bedroom condos for rent in most neighborhoods of Chicago at varying price points. Cheap condos for rent by owners in Chicago are generally found in some of the older buildings, as many of the newer condos demand the highest prices from renters. Pet-friendly condos are undoubtedly available but will be contingent on the condo owners' policy and the underlying rules of the condominium association of that building. Many townhouses for rent in Chicago are part of a condominium association and are ultimately a condo for rent since many of the same rules apply.
Renters fortunate enough to find a condo for rent may find places with more personality in finishes and design. And when it comes to maintenance, there may be a little more DIY expected of renters who sign leases for condos. Condominium 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 owner's discretion. It typically works out that renters will deal with the condo's owner as a small-scale landlord instead of a property management company responsible for the entire building.
Where Can I Find Luxury Condos For Rent in Chicago?
Renters can anticipate finding Chicago condos for rent by private landlords in neighborhoods with many vintage buildings, such as Lincoln Park, Wrigleyville, Andersonville, Ravenswood, Old Town, Boystown, and Lakeview. The downtown neighborhoods of Gold Coast, River North, Streeterville, the Loop, West Loop, and South Loop contain a decent number of luxury condos for rent. Many condominium buildings in areas like Bronzeville, Hyde Park, and South Shore have deconverted, 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, luxury condo buildings, and renters with a keen eye for the city's iconic buildings can find a condo for rent in these noted buildings. Places such as Marina City and Astor Tower, which influential architect Bertrand Goldberg designed, regularly have condos available for rent. Cap limits on rentals will vary among different condo buildings in Chicago. Still, 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 condo buildings allow renters to brag about living in a landmark building without having to place a down payment and take out a mortgage on the condo. Imagine getting the flexibility of renting in a condo building while getting the upgraded fixtures and hardware of a custom-designed condo -- not a bad deal!