In prior posts, we discussed some anecdotal pieces of info on what we have seen in terms of incentives, but never talked hard numbers. In this post, we have some approximate savings figures at various pricing ranges for you to review.
This year has been interesting across the board and that also applies to the downtown Chicago and surrounding neighborhood real estate market.
Lots Of Apartment Rent Savings
As we enter the fall season, we are seeing some prime buildings offer up to three (3) months free on already reduced rates. This creates significant savings and below we calculate the approximate savings for 3 months free at different price ranges.
Approximate Savings On 3 Months Free 12 Month Lease:
Monthly Rent $1,500/mo -> $4,500 Total Savings -> Net Effective Rent $1,125/mo ($375 lower)
Rent $2,500/mo -> $7,500 Total Savings -> Net Effective Rent $1,875/mo ($625 lower)
Rent $3,500/mo -> $10,500 Total Savings -> Net Effective Rent $2,625/mo ($875 lower)
Rent $5,000/mo -> $15,000 Total Savings -> Net Effective Rent $3,750/mo ($1,250 lower)
At the bottom of this post, we have posted grids for 12, 15, and 18-month lease terms.
Take Action
These offers will not last forever and are likely going away starting the beginning of 2021. To take advantage of these incredible savings fill out this quick form or contact us via our contact form.
12-Month Lease Term
Note these are approximate figures, please do your own research.
15-Month Lease Term
Note these are approximate figures, please do your own research.
18-Month Lease Term
Note these are approximate figures, please do your own research.
Comments