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Building boom will test downtown apartment market in 2017

from Crain's Chicago Business

Downtown apartment rents keep rising, developers keep building and landlords keep wondering how long it can last. The average effective rent at high-end, or Class A, apartment buildings in downtown Chicago rose to a record $3.03 per square foot in the second quarter, up 3.8 percent from a year earlier, according to a report from Appraisal Research Counselors, a Chicago-based consulting firm. more

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