Recent Posts
Featured Posts
  • Harold Willig

No Rent Break Despite a Slew of New Downtown Chicago Apartments by 2022


By 2022, it’s expected that at least 10,000 new apartments will be available for rent in Downtown Chicago. But despite this, prospective renters should not expect prices to drop.

In fact, experts expect annual rent increases of 2% to 3%. Why?

Because developers need to keep rents high enough to help offset expected property tax increases without driving renters away. Those taxes are passed on indirectly to tenants.

In 2021, new property assessments are coming to the city. That could push up property taxes to an estimated $5,000 to $6,000 per unit. Just a few years ago, developers were figuring in $3,500 in per unit in taxes on new projects. Therefore, rents will go up as well.

So much for the law of supply and demand!

Read on HERE

********************

Mr. Willig engages and coordinates a professional team of real estate brokers, general contractors, leasing agents, and property managers in order to rehabilitate, lease and maintain the properties he acquires for SpringView Investments. He has over 20 years of finance and accounting experience.

Follow Us
Search By Tags
Archive
  • Facebook Basic Square
  • Twitter Basic Square
  • LinkedIn Social Icon

@ 2017 SpringView Investments, LLC    All Rights Reserved.    Brooklyn, NY 11210      Legal     Sitemap     Site by Serebrin Partners 

For more information:

917-209-4452