What to Expect When Renting an Apartment in the Chicgao

Renting an apartment in Chicago, affectionately known as the Windy City, offers an exciting opportunity to live in one of the most dynamic urban environments in the United States. Chicago’s diverse neighborhoods offer something for everyone, whether you’re seeking upscale living, easy access to nature, or a bustling social scene. In this article, we’ll break down what you can expect when renting in four of Chicago’s most popular neighborhoods: Lakeview, Lincoln Park, Gold Coast, and River North.

Diverse Neighborhood Choices

One of the best things about renting in Chicago is the variety of neighborhoods, each with its unique charm and atmosphere. Here’s what you can expect from each of the four neighborhoods where PPM Apartments has properties:

• Lakeview: Lakeview is a vibrant neighborhood that’s ideal for young professionals and those who love a lively atmosphere. Here, you’ll find an abundance of restaurants, trendy cafes, and entertainment venues. Renting in Lakeview means you’ll be close to Lake Michigan, which provides beautiful views and plenty of outdoor activities.
• Lincoln Park: If you’re someone who loves the balance of city living with easy access to nature, Lincoln Park is the perfect spot. Known for its greenery, including the sprawling Lincoln Park itself, this neighborhood is ideal for those looking for a quieter atmosphere. Apartments here are often nestled among tree-lined streets, and you can expect to be near great schools, the Lincoln Park Zoo, and a variety of local shops.
• Gold Coast: The Gold Coast neighborhood offers a luxurious living experience. Known for its upscale residences and historic mansions, this area is perfect if you’re looking for a prestigious address and proximity to high-end shopping and dining. Gold Coast apartments often come with premium amenities, such as 24-hour concierge services, state-of-the-art fitness centers, and breathtaking views of Lake Michigan. Renting in Gold Coast means living in a stylish, safe, and centrally located part of the city with everything you need just steps away.
• River North: River North is a vibrant, trendy neighborhood that attracts renters who want to be at the center of Chicago’s social and cultural scene. Art galleries, upscale eateries, and a buzzing nightlife scene define this area. Apartments in River North are typically high-rises, often featuring luxurious amenities such as rooftop pools and fitness centers. Expect to pay a bit more for the convenience and lifestyle that River North provides, but it’s well worth it for those seeking a lively urban experience.

Rent Prices & Budget Considerations

Setting a budget is a critical step in your apartment search. Be sure to factor in not only rent but also utilities, parking, and other costs. The rental rates can vary significantly between neighborhoods:

• Lakeview: This neighborhood offers a range of rental options, from more affordable walk-ups to apartment complexes with added amenities.
• Lincoln Park: Rentals here tend to be slightly higher due to the quiet environment, proximity to parks, and neighborhood attractions.
• Gold Coast: The Gold Coast features upscale living, which is reflected in the rental costs. The premium amenities and prestigious location add value for those seeking luxury.
• River North: Renting in River North often comes at a higher price, given its trendy vibe, upscale apartment offerings, and convenient access to downtown entertainment and dining.

When setting your budget, remember to account for additional costs like utilities, parking fees, and any pet fees if applicable.

What You’ll Need to Apply

The Chicago rental market can be competitive, so it’s crucial to be prepared when you find the apartment that’s right for you. Here’s what you’ll typically need to apply:

• Proof of Income: Most landlords require proof that you make at least three times the monthly rent. Bring recent pay stubs, a letter from your employer, or tax returns if you’re self-employed.
• Photo ID: Be ready to provide a government-issued ID.
• Rental History and References: Some landlords may request information about your previous rentals, including references from past landlords.
• Application Fee: Many apartments in Chicago charge a non-refundable application fee to cover the cost of background checks.

Having these documents ready will help you move quickly when you find the right apartment.

Lease Terms and Expectations

In Chicago, the standard lease term is typically 12 months, though some properties may offer shorter or longer lease options. If you’re considering a shorter lease, be aware that the monthly rent might be higher compared to a longer-term lease.

Security deposits are common, although some landlords may ask for a non-refundable move-in fee instead. Be sure to ask about any additional fees, such as amenity fees, pet fees, or parking fees, before signing the lease.

Amenities and Perks

The amenities offered by rental properties in Chicago can vary widely, especially between neighborhoods like Lakeview and Gold Coast. Here’s what you can expect in terms of amenities:

• Lakeview and Lincoln Park: Look for community-focused amenities like shared courtyards, fitness centers, and pet-friendly policies. Some properties may offer bike storage and rooftop decks, ideal for summer gatherings.
• Gold Coast and River North: High-rise buildings in these neighborhoods often feature luxury amenities, such as 24-hour concierge services, resident lounges, co-working spaces, and even rooftop pools. These perks contribute to a more upscale living experience and are often included in the rent.

Timing Your Search

The Chicago rental market is busiest between May and September, when a larger inventory of apartments becomes available due to the influx of students and people relocating during the summer. If you’re planning your move during this period, be prepared for more competition and possibly higher prices. If you have flexibility, consider looking during the off-peak months, when there’s a chance to negotiate better rates.

Transportation and Commuting

Chicago is known for its excellent public transportation system, and this plays an important role in choosing a neighborhood. The “L” train system, buses, and bike-friendly streets make commuting relatively easy.

• Lakeview and Lincoln Park: Both neighborhoods are well-connected by the Brown, Purple, and Red Line trains, making it convenient to get downtown or explore other parts of the city.
• Gold Coast: The Red Line services Gold Coast, and its central location also makes it easy to walk or bike to many destinations.
• River North: With close proximity to the downtown Loop, River North residents can easily access several L lines, making commuting quick and efficient.

Consider how important a short commute is when deciding on a neighborhood, especially if you work downtown.

Ready to Find Your Chicago Apartment?

Renting in Chicago is an exciting journey, offering diverse neighborhoods that cater to all kinds of lifestyles. Whether you’re drawn to the vibrant nightlife of River North, the luxurious living of Gold Coast, the nature-filled charm of Lincoln Park, or the energetic community vibe of Lakeview, there’s a perfect place waiting for you. Explore PPM Apartments today to discover your next home in Chicago’s best neighborhoods, and experience the best that the Windy City has to offer.