Current rental market in Chicago?

[Mike Nelson]

What is the current demand for tenants in Chicago?  When I marketed and rented an apartment 8 months ago, I found it more difficult to find qualified tenants, and ended up dropping rent 10-15%.  Location is Wicker Park.  At that time, unemployment was quite high, reducing available tenant pool and reducing demand.   What is demand and rent level like compared to 6 months ago and 2-years ago?

[John Warren]

@Mike Nelson I have to say that rental demand has been weaker this year than last year. I am still getting plenty of interest, but the tenant quality feels less desirable in general than last year. I spoke to my lender about this and he mentioned that a lot of qualified renters are probably trying to get into a home right now which could be a big part of the issue. Hopefully you get the quality of tenant you want!