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Rising Rents Increase Demand for Smaller Apartments


With rents still trending up in Chicago, there's an increased demand for smaller, more affordable apartment units in high-end buildings. Factors contributing to the popularity of buildings with smaller units, such as TODs like the one at Wicker Park's 1611 W Division St, could include young college graduates struggling to find stable employment, 20- and 30-somethings delaying life milestones like marriage and children, and overall rising rents. Flair Tower (pictured) is one example of a growing number of new developments offering convertible apartment units, which attract singles interested in a studio/one-bedroom hybrid. [Chicago Mag]

Related Topics: microunits, Chicago rents