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Will more high-end apartments curb Chicago's record-high rents?

from Chicagoist

The average rent for one of the city's high-end apartments spiked 3.8 percent from last year, reaching a record $3.03 per square foot, according to research from consulting firm Appraisal Research Counselors. Crain's is reporting the sky-high numbers will likely continue, even as the city adds somewhere in the neighborhood of 13,000 new rental units to the market over the next two years. more

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