If you’re having trouble finding the right condo rental in Chicago, you just might be in luck… if you can cough up $45,000 every month.
A recently vacated apartment covering the top two floors of Old Town Park, at 1140 North Wells Street is back on the market and is the most expensive in the city, Crain’s reported.
Emily Santos with @properties Christie’s International Realty is representing the property.
Chicago’s average rent is about $2,200, about 4 percent of the Old Town Park unit’s asking price.
The condo, which has been offered as a rental property since it opened in June 2019, comes fully furnished, including the linens and silverware. Each level of the penthouse has a terrace and the upper terrace features a swimming pool and hot tub.
Santos said that with interest rates on the rise and the housing market cooling off, more luxury condos will be listed for rent as the owners struggle to find buyers.
For the thrifty affluent renter seeking more modest digs in the Windy City, there are two cheaper options in the St. Regis Tower in Lakeshore East. An unsold four-bedroom, 6,000-square-foot unit occupying the entire 89th floor is listed for $35,100 a month and a four-bedroom, 3,500-square-foot unit on the 28th floor is available for rent for $33,000 a month.
In nearby Lincoln Park, a condo on the 35th floor of the tower at 2550 North Lakeview Avenue is seeking nearly $6 million after the owners flipped the 4,700-square-foot unit. But that unit could hit the rental market if the sellers can’t find a buyer.
Chicago has had some high-priced condo sales close recently. Mexican billionaire mining executive German Larrea was recently identified as the buyer of a $20.56 million condo on the 71st floor of Chicago’s St. Regis Tower. In addition, former Chicago Bear Khalil Mack, who was traded to the Los Angeles Chargers earlier this year, sold a Gold Coast condo late last month for $6.9 million.
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