Downtown Chicago Apartment Perceived Values

When searching for a new Chicago apartment, every prospective renter, or buyer, weighs different factors reflecting their ideal lifestyle. The following criteria predominately drives a renter’s apartment search.

• Price Point
• Move Date
• Size
• Layout
• Views
• Amenities
• Quality of Space
• Location, Location, Location!

Not all apartments are perfect, so the renter must decide what combination is ideal and what can be sacrificed.

Renters typically know their “wants” and their “must-haves” and have some flexibility with what they would like their new apartment to feature. After touring a few potential apartments, renters may change their mind about what is important to them. 

For example:

Is it worth it to live in a newer unit with less space with higher quality finishes OR for the same price, go with an older apartment with more space and not as updated?

Would you spend slightly more to live in your ideal location OR choose a lower monthly rent for a space a little further away?

If one apartment is a bit more expensive, but the property had a rooftop pool and excellent fitness center, would the benefits of having these amenities at your fingertips even out?

This is what we call perceived value. 

Value doesn’t necessarily mean price in the sense of being budget conscious. It refers to what the renter finds most important when all other things are relatively equal.

With so many great downtown Chicago apartments on the market, one can’t help weighing their options. When touring with a Luxury Living Chicago Realty broker, we will cover the spectrum for you to eliminate the “what if’s” in your search. We are here to consult and make your search as efficient as possible.

By the end of your search, you will be well-educated on what the market has to offer, and most importantly, you will feel comfortable in moving forward with an apartment that best reflects your lifestyle.