Anyone own Chicago multi-unit rentals during the last crash?

[Gillian C.]

I’m looking to hear from folks who owned multi family rentals in Chicago (or elsewhere, though specifically interested in Chicago) during the last downturn.

- Did rents go down?

- Did you have higher or lower demand for renters?

- Increased issues with non-payment / evictions?

Basically aside from the obvious hit of the resale value, I’m looking to hear about what you experienced from a landlord perspective. Anything wish you knew or wish you had planned for also welcome. We just bought our first multi and with all this talk of a potential downturn want to be as prepared as possible if and when it hits (especially since we are looking to buy another now).