Not a Good Time to Be a Landlord

According to Crain's Chicago rent in the downtown market has fallen to it's lowest levels in 7 years. The article goes on to call out the South Loop specifically saying:

The new South Loop projects “have hit the market at the worst time, if you want to live in the South Loop, you have lots of options. That has really slowed down the leasing.”

This isn't a big surprise especially since there are also a lot of condo owners who would rather try to rent their properties instead of selling them.