Inflation is having a major impact on the cost of rent in the Chicago area

Rent in downtown Chicago has increased 19% since last year and suburban apartment rentals rose 17% in the past year.

Two men named ‘Cap: How Streeterville got its name
Two men named ‘Cap: How Streeterville got its name

Inflation is having a major impact on the cost of rent in the Chicago area

Rent in downtown Chicago has increased 19% since last year and suburban apartment rentals rose 17% in the past year.

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Demand for homes and apartments is greater than supply nationwide, and construction of new properties is lagging behind demand.

Reset checks in with a real estate reporter to learn more and with a tenants rights organization to learn what you need to know as a renter or landlord.

GUESTS: Alby Gallun, senior reporter at Crain’s Chicago BusinessJohn Bartlett, executive director of the Metropolitan Tenants Organization